Nepali Microfinance Institution Holds Annual Meeting, Considers Merger Options
In a recent development, NESDO Samridha Laghubitta Bittiya Sanstha, a prominent microfinance institution in Nepal, has announced the convening of its 5th Annual General Meeting (AGM) on June 7, 2024. The meeting, scheduled to take place at the Royal Kusma Resort in Kusma, Parbat, at 12:30 pm, aims to address crucial matters concerning the company’s future.
One of the key agenda items for the AGM is the potential merger or acquisition of NESDO Samridha Laghubitta with suitable partners. The shareholders will be tasked with delegating authority to the Board of Directors (BOD) to explore and pursue such opportunities, which could potentially reshape the microfinance landscape in Nepal.
Furthermore, the meeting will also consider amendments to the company’s articles and memorandum of association to ensure compliance with the directives issued by the regulatory authorities overseeing the financial sector in Nepal. This move underscores the institution’s commitment to adhering to industry standards and maintaining transparency in its operations.
In preparation for the AGM, NESDO Samridha Laghubitta has announced that it will close its share register on May 31, 2024. Consequently, only shareholders registered in the company’s books by May 29, 2024, will be eligible to attend and participate in the crucial decision-making process during the meeting.
The AGM represents a pivotal moment for NESDO Samridha Laghubitta, as the decisions made during this gathering could significantly impact the company’s future trajectory, its ability to serve its customers effectively, and its positioning within the rapidly evolving microfinance industry in Nepal.
