NEPSE Adjusts Stock Price of Ganapati Microfinance

Dec 04, 2019 10:17 AM Merolagani

Nepal Stock Exchange (NEPSE) has adjusted stock price of Ganapati Microfinance (GMFBS) following its book close on December 4.

NEPSE adjusted the stock price of Ganapati Microfinance at Rs 462.62 after adjusting 7 percent stock dividend.

The company is conducting its 3rd AGM on December 20 in Jungle Park Resort, Shukla Gandaki, Tanahun, at 3:00 PM.  

The meeting is supposed to endorse a proposal of distributing 7 percent stock and 0.3684 percent cash dividend for tax purpose. The current paid-up capital of Rs 103.5 million will reach Rs 110.7 million after the bonus share distribution.

The meeting is also supposed to issue 50 percent right shares of the paid-up capital maintained after bonus share distribution to its existing shareholders. Moreover, the meeting will delegate authority to BOD to forward merger/acquisition and amend its article of association and memorandum of association as required by regulatory bodies.

The company closed its book on December 4 for the upcoming AGM, thus, the shareholders registered in its book till December 3 will be eligible to attend the AGM and obtain the announced dividend.

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