United Finance 23rd AGM on Poush 29; to ratify 19% bonus shares and cancel 20% right shares

United Finance has announced to have its 23rd AGM on the following time and date:

Date: 29th Poush, 2074 (13 january, 2017)

Time:11 am

Venue : Amrapali Banquet, Banquet, Kathmandu

Major Agenda:

• Financial Highlights for the FY 2073/74
• Appointment of Auditor
• To cancel the 20% right shares approved by previous AGM
• To ratify 19% bonus shares to the shareholders
• To issue 21 lakh promoter shares at Rs 190 so as to make india based muthoot finance as foreign strategic partner
• Amendment in MOA and AOA of the company. 

The shareholders book will remain closed from 14th poush for the purpose of AGM. Shareholders having the shares at the time of bookclose will be eligible for the bonus shares announced by the company. 

The company currently has a paid up capital of Rs 67.27 crores. The company will meet its paid up requirement upon distributing the bonus shares.  The company had a net loss of Rs 3.45 crores as of 1st quarter 2074/75. There was a hefty increase in the company's interest expense resulting in a drastic fall in the spread. The company has a huge reserve of Rs 32.74 crores, with a strong networth of Rs 148.67 per shares. 

The company was last traded at Rs 265 in the stock exchange.