Kalika Laghubitta Bittiya Sanstha Ltd. held its 16th Annual General Meeting (AGM) on Wednesday in Pokhara. The meeting approved the annual report for FY 2081/82 presented by Chairman Chandra Bahadur Kshetri.
The AGM approved the distribution of 10% bonus shares and 0.5263% cash dividend (tax applicable on bonus shares) from the accumulated profits. After issuing the bonus shares, the company’s paid-up capital will increase to NPR 44.846 million.
Currently, the founding group holds 64.52% of shares while the public holds 35.48%. The AGM approved transferring 10% of the founding group’s shares to the public, resulting in a new shareholding structure of 54.52% for founders and 45.48% for the public.
Additionally, the AGM authorized the Board of Directors to identify and sign letters of intent with one or more suitable financial institutions for merger or acquisition purposes.
