21st AGM of NMB Bank today; to endorse 19% bonus share & endorse FPO shares

NMB Bank Limited (NMB) will be convening its 21st Annual General Meeting (AGM) today (Poush 24, 2073) at Nepal Pragya Pratishthan at 10:00 AM. The main agendas of the AGM are:

1. To endorse 19 percent bonus share and 1 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2072/73.
2. To increase its authorized capital from existing Rs 8 arba to Rs 10 arba.
3. To amend article of association accordingly after the increment in the issued and paid up capital with bonus share distribution.
4. To float Further Public Offering (FPO) in order to fix promoter-public shareholding ratio, and to fix FPO at a premium price.
5. To authorize BOD for necessary amendments in Article of Association addressing the change in public and promoter share structure after the FPO, since the bank’s issued and paid up capital will rise increasing public shareholders’ ownership and decreasing promoters’.
6. To authorize BOD for amendments as per necessary.

Other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Poush 6, 2073 were entitled to the bonus share of the company. The register of their shareholders was closed from Poush 7, 2073 till Poush 24, 2073 for the purpose of this AGM. NMB Bank has earned net profit of Rs 38.61 crore in the first quarter of the FY 2073/74. Its paid up capital remains at Rs 5.43 arba. After distribution of 19% bonus share, its paid up capital will rise to Rs 6.46 arba.