NADEP Microfinance Financial Institution Limited (NADEP) has fixed the date of its annual general meeting.

Microfinance has convened its seventh annual general meeting on Magh 14 at Naubise Agro Resort, Naubise, Dhading. The meeting will be held online at 11 am, according to microfinance.

The meeting will pass a resolution to distribute bonus shares at the rate of 20 percent of the paid up capital and 1.053 percent cash dividend.

Nadep is going to close the book on Poush 16 for the purpose of AGM. Due to the in-principle agreement of Diprox Microfinance to acquire Nadep, the trading of Nadep’s shares has been suspended till now.

But the agreement in principle between Diprox Microfinance to acquire Nadep has been broken.

Along with the dividend proposal, Diprox Microfinance will also pass a resolution approving all the work done in this regard as the agreement in principle regarding the acquisition of Nadep is invalid. In addition to this, on behalf of the founding group, it will pass resolutions including electing 4 directors, giving authority to the board of directors to work on mergers and acquisitions.