Alpine Dev. Bank 9th AGM on Poush 29; to approve 14.5% bonus & 69.49% right share

Alpine Development Bank Limited (ALDBL) will be convening its 9^th Annual General Meeting (AGM) Poush 29, 2073. The AGM will be held at Hotel Avocado, Hetauda at 11: 00 AM. Main agendas of the AGM are:

• To endorse 14.5 percent bonus shares and Rs 17, 33, 437 as cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
• After issuance of bonus share, to issue 3:2.08 (69.49%) ratio right share to its existing shareholders and to amend the article of association accordingly.
• To increase meeting allowance of BOD members.
• 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 2072/73, appointment of auditor and election of 3 BOD members from promoter shareholders group. Only those shareholders owning shares till Poush 12, 2073 will be entitled to the bonus share of the company. The register of their shareholders will be closed from Poush 13, 2073 till Poush 29, 2073 for the purpose of its AGM. A separate book closure date will be published for the right share. Alpine Development Bank has earned net profit of Rs 54.56 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 22.71 crore. After distribution of 14.5 % bonus and 69.49% right share, its paid up capital will reach to Rs 44.07 crore.