Alpine Dev. Bank 8th AGM on Shrawan 8; to approve 23% stock dividend; Book Closure for 3:2.084 right issue on Ashad 21

Alpine Development Bank Limited (ALDBL) will be convening its 8^th Annual General Meeting (AGM) on Shrawan 8, 2073. The AGM is going to be held at Hotel Avocardo, Hetauda at 11: 00 AM. . Main agendas of the AGM are:

• To endorse 23 percent bonus shares and 1.21 percent from the net profit it earned from the fiscal year 2071/72.
•  To issue 3:2.084 (69.49%) ratio right share to its existing shareholders which was already endorsed from previous AGM.After issuance of right share its paid up capital will reach Rs 22.71 crore and to amend the artilce of association accordingly.
• To increase meeting allowance of BOD members.
• To endorse help provided to earthquake victim.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 3 BOD members from public shareholders group. ALDBL 7^th AGM held had approved 3:2.084 right shares to their shareholders and now the bank has announced the book closure date for the same. Only those shareholders owning shares till Ashad 20, 2073 will be entitled to the bonus and right share of the company. The register of their shareholders will remain closed from Ashad 21, 2073 till Shrawan 8, 2073 for the purpose of its upcoming AGM and right share. Alpine Development Bank has earned net profit of Rs 2.41 crore in the third quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 11.80 crore. After distributing 23 percent bonus share it’s paid up capital will rise to Rs 14.51 crore.