Bhargav Bikas Bank 8th AGM today; to endorse 20% stock dividend & 100% right share

Bhargav Bikas Bank Limited (BHBL) is convening its 8^th Annual General Meeting (AGM) today (Ashad 25, 2073). The AGM is being held at Hotel City Palace, Surkhet Road, Nepalgunj at 11: 00 AM. . Main agendas of the AGM are:

• To increase authorized capital from Rs 20 crore to Rs 50 crore and also paid up from existing 10 crore to Rs 24 crore and amend the article of association accordingly.
• To endorse 20 percent bonus shares and 1.05 percent from the net profit it earned from the fiscal year 2071/72.
• After bonus share issuance to endorse 1:1 (100%) ratio right share to its existing shareholders
• Authorized BOD to initiate merger/acquisition process with other BFI by endorsing Due Diligence Audit (DDA)
• 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 BOD members from promoters shareholders group. Only those shareholders owning shares till Ashad14, 2073 are entitled to the dividend of the company. The register of their shareholders remained closed from Ashad 15, 2073 till today for the purpose of its upcoming AGM. BHBL has earned net profit of Rs. 1.68 crore in the third quarter of current fiscal year.It’s paid up capital remains at Rs. 10 crore. After distributing 20 percent bonus share it’s paid up capital will rise to Rs. 12 crore.