Bhargav Bikas Bank 9th AGM on Poush 23; to endorse 20% stock dividend; Book Closure on Poush 9

Bhargav Bikas Bank Limited (BHBL) will be convening its 9^th Annual General Meeting (AGM) on Poush 23, 2073. The AGM will be held at Cygnett Inn Krishna (Krishna Hotel), Surkhetroad, Nepalgunj. Main agendas of the AGM are:

• To endorse 20% bonus shares and 1.05 cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73.
• After issuance of bonus share its issued and paid up capital will increase and amend article of association accordingly.
• To initiate merger/acquisition process with other BFIs by endorsing Memorandum of Understanding (MOU) for the merger/acquisition process and appoint auditor for Due Diligence Audit (DDA). The finance company was unable to complete merger process with Sahayogi Bikas Bank Ltd.
• 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 the FY 2072/73, appointment of auditor and to elect 4 BOD members from promoter shareholders group. Only those shares registered one day ahead of the book closure date, i.e. Poush 9, 2073 are eligible for the bonus shares. The register of their shareholders will be closed from Poush 10, 2073 till Poush 23, 2073 for the purpose of its  AGM. BHBL has earned net profit of Rs 65.81 crore in the first quarter of the fiscal year 2073/74.. It’s paid up capital remains at Rs. 12 crore. After distributing 20 percent bonus share it’s paid up capital will rise to Rs. 14.4 crore.