17th AGM Convened

The 17th Annual General Meeting (AGM) of shareholders was convened on January 8, 2010 under the chairmanship of Mr. Padma Jyoti, the Chairman of the Board of Directors, at Head Office, Baneshwor, Kathmandu.

The shareholders actively participated in discussion.

The AGM approved the Board of Directors Report; Financial Statement for F.Y. 2065/66 and 20% cash dividend to the shareholders from the net profit of F.Y. 2065/66.

Special resolutions to issue 10% dividend and right shares in a ratio of 3:2, and to amend the Memorandum of Association and Articles of Association of the company with the increase of capital structure and necessary changes in allied area were approved during the AGM.

The AGM appointed M/s PP Pradhan & Company as external auditor of the company for F/Y 2066/67 and the remuneration thereof as per the recommendation of the Audit Committee.

Mr. Nirmal Pradhan has been elected as Director representing public shareholders for four years.