Kalinchowk Darshan Limited has called its 12th Annual General Meeting on Asoj 16 to approve an 8.5 percent bonus share distribution and a subsequent 100 percent right share issue.
AGM Date and Venue
Kalinchowk Darshan Limited is going to hold its 12th Annual General Meeting on Asoj 16. According to decision of the board meeting held on Bhadra 24, the assembly will start at 11:30 AM at German Homes Hotel, located at Madhyapur Thimi, Gathaghar, Bhaktapur.
The AGM will discuss and pass the annual report and auditor report of the fiscal year 2082/83. It will also appoint external auditor for fiscal year 2083/84 and determine their salary. Beside this, the meeting will approve appointment of directors for their remaining working period.
Bonus Shares and Tax Dividend
In special proposals, the company has proposed to distributing 8.5 percent bonus shares. This is calculated on the current paid-up capital of Rs. 63 crore. This means the company will distribute bonus shares worth Rs. 5 crore 35 lakh 50 thousand. To cover the tax on this bonus shares, company has also proposed a cash dividend of 0.4474 percent, which equals Rs. 28 lakh 18 thousand 421.05.
100 Percent Right Shares Proposal
Once the bonus shares are distributed, the paid-up capital of Kalinchowk Darshan will reach Rs. 68 crore 35 lakh 50 thousand. Based on this new capital, company plans to issue 1:1 ratio or 100 percent right shares. They will issue 68 lakh 35 thousand 500 units of right shares at a face value of Rs. 100 per share.
The company also wants to expand its business areas. They have proposed to add new sectors like agriculture, hydropower, information technology, and manufacturing fields to diversify their investments.
Capital Increase and Book Closure Date
To adjust capital after issuing bonus and right shares, company will increase its authorized and paid-up capital. The board of directors will get full authority to make any changes in company’s memorandum and articles of association if required by regulating authorities.
For this AGM, the company has announced that book closure date is on Asoj 9 for one day. This means only shareholders registered in the company books until Asoj 8 will be eligible to participate in the annual meeting.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
