Garima Bikas Bank’s 10th AGM today; to endorse 20% bonus & 70% right share

Garima Bikas Bank Limited will be conducting its 10^th Annual General Meeting (AGM) today (Falgun 6, 2073). The AGM is being held at Hotel Pokhara Grand, Birauta , Pokhara at 10:00 AM. The main agendas of the AGM are:

• To approve 20 percent bonus share from the net profit it earned from the fiscal year 2072/73.
• To endorse 10:7 (70%) right share after bonus share distribution.
• To amend Article of Association accordingly.
• To increase allowance of Board of Director and amend article of association accordingly.
• To authorize BOD to complete Due Diligence Audit (DDA) and Memorandum of Understanding (MOU) for the merger process of Garima Bikas Bank with other Bank and Financial Institutions (BFIs).
• To authorize BOD for necessary amendments.

The register of the shareholders was closed from Magh 21, 2073 till Falgun 6, 2073. Only those shareholders having shares till Magh 20, 2073 were eligible for the bonus share of the company for participation in the AGM. A separate book closure will be published for the right share. Garima Bikas Bank has earned net profit of Rs 15.95 crore in the second quarter of the FY 2073/74. Its paid up capital remains at Rs 1.08 arba. After distribution of 20% bonus share its paid up capital will reach to Rs 1.29 arba. Also, after 70% right share issuance its paid up capital will reach to Rs 2.19 arba.