Two microfinance and one hydropower called for AGM on Friday

Kathmandu, April 1

Three companies, including two microfinance companies, are set to hold their annual general meetings on Friday. Deprosc Laghubitta Bittiya Sanstha Ltd., Support Laghubitta Bittiya Sanstha Ltd. and United Idi Mardi & RB Hydropower Limited have convened an annual general meeting.

Deprosc Laghubitta has called a meeting at Hotel Monalisa Sauraha, Chitwan at 11 am. The meeting will pass a total dividend proposal of 20 % including 15 % bonus share and 5 % for tax purposes from the accumulated profits of the last fiscal year 076/77.

The company currently has a working capital of Rs. 1 arba 54 lakh 33 thousand. Dividends are being distributed on the basis company’s capital. For the purpose of the general meeting, the book has been closed for one day on Chaitra 20. On the basis of the book close, only the existing shareholders till Chaitra 19 are eligible to receive dividend and participate in the general meeting.

Similarly, Support Laghubitta has called a meeting at Hotel Eastern Palace Pvt. Ltd., Itahari at 9 in the morning. The company has not proposed any dividends for the meeting this year. The meeting will pass the financial statement including the annual report of the last fiscal year 076/77 and will also appoint the auditor for the current fiscal year and determine his / her remuneration.

In addition, the meeting will decide to give full authority to the Board of Directors in case of merger and acquisition with any other suitable Microfinance. For the purpose of the general meeting, the company has closed the book from Chaitra 6 to the day of the meeting. Based on the book close, only the existing shareholders till Chaitra 5 are eligible to participate in the meeting.

United Idi-Mardi & RB Hydropower Limited has called a meeting at Hotel Sangrila Village, Pokhara at 11 am. The meeting will pass the annual report of the last fiscal year 076/77 and will also appoint the auditor for the current fiscal year and determine his / her remuneration. Also, the election of a moderator on behalf of the general shareholders has been decided for the meeting. The company has closed the book on Chaitra 6 for the purpose of the general meeting. On the basis of book close, only the existing shareholders till Chaitra 5 will be able to participate in the meeting. The company is set to hold its first annual general meeting since issuing an IPO to the public.

The company had issued an IPO to the public last Mangshir. Earlier, the project had sold IPO for the locals affected by the project in the first phase from Ashoj 7 to Kartik 6.

The company has been generating electricity in Kaski district since Ashoj 20, 2076 by completing the construction of 7 MW Upper Mardikhola Hydropower Project.