5th AGM of Century Commercial Bank: Elects 4 BoD member, endorses 9% bonus & 30% right share
Sun, Feb 7, 2016 4:31 PM on Latest, Featured, AGM/Special AGM, Stock Market,
Century Commercial Bank Limited (CCBL) has convened its 5th Annual General Meeting (AGM) on Magh 22, 2072. The AGM was held at Army Officers’ Club, Bhadrakali, Kathmandu at 11:00 AM.
Four BOD members from promoter shareholders group (A) were elected. Mr. Laxman Kumar Shrestha, Mrs. Uma Kumari Shrestha, Ms. Rajesh Raj Dali, and Mr. Mahesh Kumar Agrawal were elected to BOD.
Following agendas were endorsed through the 5th AGM of the bank:
Other agendas approved by the AGM include financial highlights of 2071/72, appointment of the auditor.
Only those shareholders owning shares till Magh 7 is entitled to the bonus share of the company. The register of their shareholders has been closed from Magh 8, 2072 to Magh 22 for the purpose of its AGM.
As per unaudited report CCBL had earned net profit of Rs 7.42 crore in the first quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.12 arba. After distributing 9 percent bonus share it’s paid up capital will rise to Rs 2.31 arba.
- 9 percent bonus share and 0.47 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72. The fractional bonus share will be rounded to the nearest whole number.
- Right shares in the ratio 10:3 (30%) after the issuance of bonus share.
- Increase paid up and issued capital.
- Authorize BOD to initiate merger/acquisition process with other BFI by endorsing Due Diligence Audit (DDA) and Memorandum of Understanding (MOU).
- Amend article of association and memorandum of association as per directed by Office of Company registrar or Nepal Rastra Bank.
- Approve the work tenure of the Chairman, BOD and CEO not to extend more than 2 years.
Other agendas approved by the AGM include financial highlights of 2071/72, appointment of the auditor.
Only those shareholders owning shares till Magh 7 is entitled to the bonus share of the company. The register of their shareholders has been closed from Magh 8, 2072 to Magh 22 for the purpose of its AGM.
As per unaudited report CCBL had earned net profit of Rs 7.42 crore in the first quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.12 arba. After distributing 9 percent bonus share it’s paid up capital will rise to Rs 2.31 arba.
