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Bagmati Dev Bank 18th AGM on Ashwin 28; to endorse 14% bonus; in acquisition process with Sanima Bank

Fri, Sep 23, 2016 10:01 AM on Latest, Dividend, Bonus & Rights, Featured, AGM/Special AGM, Stock Market,
-ShareSansar
Bagmati Development Limited (BGDBL) will be convening its 18th Annual General Meeting (AGM) on Ashwin 28, 2073. The AGM will be held at Brihat Bagwani Kendra, Netraganj, Sarlahi at 11: 00 AM. The main agendas of the company are as follows:
  • To endorse 14 percent bonus shares and 0.74 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
  • After issuance of bonus share distribution to increase issued and paid up capital from existing Rs 5.75 crore to Rs 6.55 crore and amend article of association accordingly.
  • To appoint auditor for Due Diligence Audit (DDA) and fix share swap ratio of Sanima Bank and Bagmati Dev. Bank has been fixed at 100:41 and issue shares accordingly.
  • To endorse Scheme of Arrangement after acquisition of Bagmati Development Bank Limited by Sanima Bank Limited and authorize BOD to take necessary step as per the direction of regulatory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and Clearing Limited.
Other main agendas of the AGM include financial highlights of 2072/73, and appointment of auditor. The trading of BGDBL has been on halt following the acquisition process since Jestha 7, 2073. Only those shareholders buying shares before Jestha 6, 2073, will be eligible for the bonus share of the company.
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