Unique Nepal Microfinance to Convene Sixth AGM: Future Strategy in Focus

Unique Nepal Microfinance Financial Institution Ltd. has announced its sixth Annual General Meeting (AGM), scheduled for December 25, 2024, at Hotel Central Plaza, Kohalpur Municipality-4. The meeting, set to begin at 10:00 AM, is expected to highlight significant decisions that could shape the company’s strategic direction.

1. No Dividend Proposal
   Shareholders should note that the AGM agenda does not include any proposals for dividend distribution. This might suggest the company’s intent to focus on capital conservation or reinvestment, likely to support its long-term goals or operational stability.

2. Authorization for Future Mergers/Acquisitions
   A special proposal will seek to authorize the board of directors to initiate mergers or acquisitions with other microfinance institutions. This move aligns with the broader trend of consolidation in Nepal’s microfinance sector, aimed at improving operational efficiency and financial robustness amidst regulatory pressures.

3. Approval of Annual Financial Reports
   The meeting will review and approve the institution's annual financial performance, including the balance sheet, profit and loss statement, and cash flow for the previous fiscal year. This is a standard yet crucial process to maintain transparency and accountability toward shareholders.

4. Appointment of Auditor
   Proposals to appoint an external auditor for the current fiscal year and determine their remuneration will also be tabled, reinforcing the company’s commitment to financial compliance.

To facilitate participation, the company has announced a book closure on December 17, 2024. Only shareholders holding shares as of December 16, 2024, will be eligible to attend the AGM.