Kathmandu. Nerude Mirmire Laghubitta Bittiya Sanstha Limited has called its 19th Annual General Meeting (AGM) to endorse the proposal of issuing 25 percent right shares of its paid-up capital.

The 396th meeting of the Board of Directors of the Cooperatives held on June 24 has called the annual general meeting at White Palace Banquet at Kaushaltar, Madhyapur Thimi-3, Bhaktapur at 11:00 am on Thursday.

Under the special proposal, the meeting will present a proposal of issuing 25 percent right shares in the ratio of 1:0.25 of the existing paid-up capital of Rs 1.39 billion after the approval of the regulatory body. Accordingly, the company will issue 34,94,410.68 units of right shares worth Rs 34,94,410.68.22. The company is planning to issue right shares at a face value of Rs 100 per share.

Likewise, a proposal to amend the Memorandum of Association and Articles of Association of the Association and authorize the Board of Directors to make amendments as per the directives of the regulatory body and authorize the Board of Directors to initiate the process of merger and acquisition with other ‘D’ class microfinance ÷institutions.

The agenda of the AGM is to approve the annual report for the fiscal year 2081÷82, financial statement along with audit report, appoint an auditor for the fiscal year 2082÷83, appoint an independent director and approve a director appointed to the board of directors from the promoter group.

For the purpose of the AGM, the company has decided to close the shareholder registration book for one day on July 19. As per the agreement, only the shareholders who have been traded in the Nepal Stock Exchange till July 1 will be eligible to participate in the AGM.