12th AGM of Sanima Bank on Ashwin 28; to acquire Bagmati Dev Bank (swap ratio at 100:41) ; to issue 15% bonus & 30% right share

Sanima Bank Limited (SANIMA) will be convening its 12th Annual General Meeting (AGM) on Ashwin 28, 2073. The AGM will be held at Naxal Banquet, Narayanchaur, Naxal Kathamandu at 11:00 AM. The main agendas of the AGM are:

• To endorse 15 percent bonus shares and 0.79 percent cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To endorse the acquisition process of Bagmati Development bank Limited (BGDBL) by Sanima Bank Limited (SANIMA).
• To authorize BOD to take necessary step as per the direction of regulatory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and Clearing Limited.
• To appoint auditor for Due Diligence Audit (DDA) and fix share swap ratio of Sanima Bank and Bagmati Dev. Bank has been fixed at 100:41 and issue shares accordingly.
• To get final approval from regulatory body for acquisition and start transaction.
• After 15% bonus share distribution and acquisition of Bagmati Development Bank, to issue 30% right share.
• To increase issued, authorized and paid up capital of the bank and amend article of article accordingly.

Other main agendas of the AGM include financial highlights of 2072/73, and appointment of auditor. Only those shareholders owning shares till Ashwin 12, 2073 will be entitled to the bonus share of the company. The register of their shareholders will remain closed from Ashwin 13, 2073 till Ashwin 28, 2073 for the purpose of its AGM. The auction shareholders can participate in the AGM and are eligible for bonus and cash dividend of the company. Sanima Bank has earned net profit of Rs 1.04 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report. After adjustment of 50% right share issued on Ashad 12, 2073 and distribution of 15% bonus share the paid up capital will reach to Rs 5.27 arba. Likewise, after issuance of 30% bonus share its paid capital will rise to Rs 6.85 arba.