Bank of Kathmandu 21st AGM today; to endorse 26% bonus share& merger with Lumbini bank

Bank of Kathmandu (BOK) is conducting its 21^st AGM today. The AGM is being held at Nepal Academy Hall, Kamaladi, Kathmandu at 11 am. The main agendas of the meeting are:

• To endorse 26% bonus share from the net profit it earned from the fiscal year 2071/72 and to increase the issued capital and paid up capital in the same limit
• To amend the article of the association
• To endorse the merger between Bank of  Kathmandu and Lumbini Bank Limited
• The swap ratio after the due diligence audit, which had been fixed in 1:0.8281 means Lumbini Bank 1 unit share equals to Bank of Kathmandu 0.8281 unit share.
• After the merger between Bank of Kathmandu and Lumbini Bank, the merged entity will be named as Bank of Kathmandu Lumbini Limited.
• After the completion of merger process of three banks to amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• To approve Scheme of Arrangement for the merger process of Bank of Kathmandu and Lumbini Bank and to authorize BOD to initiate process of merger and acquisition.

The other agendas of the meeting are include financial highlights of 2071/72, to endorse 1.36% cash dividend, appointment of auditor and endorse help provided to the earthquake victims. Share transaction of Bank of Kathmandu & Lumbini Bank has been halted for the merger process. Only those shareholders owning shares till  Magh 3, 2072 is entitled to the dividend of the company. The register of their shareholders whas been closed from Magh 4, 2072 till Magh 24,  2072 for the purpose of its upcoming AGM. The paid up capital of BOK stands at Rs 2.12 arba. After the issuance of bonus shares it will soar up to Rs 2.67 arba.