Manjushree Finance Calls 19th AGM on Kartik 20, Set to Approve 20 Percent Dividend

Kathmandu. Manjushree Finance has convened its 19th Annual General Meeting. The company's board of directors, in a meeting held on Thursday, decided to hold the meeting on Kartik 20. The meeting will begin at 11 AM at Thapagaun Banquet in Thapagaun, Kathmandu.

The meeting will approve a proposed total 20 percent dividend for the last fiscal year 2082/84. This includes 15 percent cash dividend (including tax) and 4 percent bonus shares.

The meeting will pass a special resolution to issue non-redeemable cumulative preference shares with a dividend rate of 8.75 percent on 4 million units of Rs 100 face value, totaling Rs 400 million, to be distributed only in profitable years, as proposed by the board, subject to approval from Nepal Rastra Bank for primary capital increase. After the distribution of bonus shares and issuance of preference shares, the issued and paid-up capital will increase, so the meeting will approve another special resolution to amend the Memorandum and Articles of Association accordingly.

The meeting will pass a proposal to increase the authorized capital from Rs 1.36 billion to Rs 1.83 billion after adjusting bonus shares and issuing preference shares.

The meeting will approve the annual and auditor's reports for the last fiscal year, as well as pass a proposal regarding the appointment of the auditor for the current fiscal year and determination of their remuneration.

The company has decided to book close on Kartik 11 for dividend and meeting purposes. This means only shareholders holding shares until Kartik 11 will be eligible to receive dividends and participate in the meeting.