9th AGM of Prime Commercial Bank to endorse 23% bonus share; to acquire Biratlaxmi & Country Dev. Bank; AGM on Magh 12

Prime Commercial Bank Limited will be convening its 9th AGM on Magh 12, 2073. The AGM will be held at Nepal Academy Hall, Kamaladi, Kathmandu at 11 am. The main agendas of the meeting are:

• To endorse 23% bonus share and cash dividend of Rs 4,45,53,175 (for tax purpose) from the net profit it earned in the FY 2072/73.
• To give final approval to the acquisition of Biratlaxmi Bikas Bank and Coutnry Development Bank and provide approval for the Due Diligence Audit (DDA) and fix share swap ratio.
• To endorse Scheme of Arrangement for the acquisition of Biratlaxmi Bikas Bank Ltd and Country Development Bank by Prime Commercial Bank Ltd.
• To authorize BOD for the merger/acquisition process of the bank with other Bank and Financial Institutions (BFIs).
• To increase issued and paid up capital.
• To amend Article of Association and Memorandum of Association on the following issues.

1. To shift the head office of the bank to Kamalpokhari, Kathmandu.
2. To increase issued and paid up capital up to Rs 6.32 arba.
3. To fix the tenure of Chairman, Board Members and Chief Executive Officer (CEO)

• To authorize BOD for necessary amendments as per the directions of Nepal Rastra Bank, Securities Board of Nepal, Nepal Stock Exchange, Nepal CDSA and Clearing Limited.

Other agendas of the meeting include financial highlights of 2072/73 and appointment of the auditor. Only those shareholders owning shares till Poush 27, 2073 will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 28, 2073 till Magh 12, 2073 for the purpose of its upcoming (AGM).