Business Universal Dev Bank’s 12th AGM on Poush 3; to endorse 13% bonus share

Business Universal Development Bank (BUDBL) will be convening its 12th Annual General Meeting (AGM) on Poush 3, 2072. The AGM is going to be held at Amritbhog Caterers Pvt. Limited, Kalikasthan, Dillibajar, Kathmandu at 11:00 AM. The main agenda of the AGM are:

• To endorse 13 percent bonus share and 0.68 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72
• To propose for the increment of the bank’s authorized, issued and paid up capital.
• To amend the article of association and increase the authorized capital, issued capital and paid up capital.
• To change the current shareholding of the bank to promoter shares 51% and ordinary shares 49%
• Authorize BOD to initiate merger or acquisition process with other financial institutions.
• Authorize BOD to make changes as directed by regulatory bodies, if any.

Other agendas of the AGM include endorsement of financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Mangsir 19 will be entitled to the bonus share of the company. The register of their shareholders will remain close from Mangsir 20, 2072 till Poush 3, 2072 for the purpose of its upcoming AGM. Business Universal Development Bank has earned Rs. 4.07 crore in the first quarter of the fiscal year 2072/73.