Civil Bank 6th AGM on Jestha 4; to endorse 2.88% bonus & 30% right share

Civil Bank Limited (CBL) will be convening its 6^th Annual General Meeting (AGM) on Jestha 4, 2074. The AGM will be held at Rastriya Pragya Pratisthan, Pragya Bhawan, Kamaladi, Kathmandu at 11 AM. Main Agendas of AGM are:

• To endorse 2.88 percent bonus share and 0.1516 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.

• The Due Diligence Audit Report (DDA) has set the value of Civil Bank, Unique Finance and Hama Merchant. The share swap ratio of Civil: Unique has been fixed at 100:90, Civil: Hama Merchant 100:89.
• To endorse the final agreement and Scheme of Arrangement for the acquisition by Civil Bank Limited.
• To endorse 10:3 (30%) right shares after completion of acquisition process with Hama Merchant and United Finance.

• To increase its issued and paid up capital.
• To authorize BOD to perform necessary procedures required for acquisition with other BFIs.
• To amend Article of Association and Memorandum of Association as per directed by registrar office or Nepal Rastra Bank.
• To provide authority to BOD for merger/acquisition with other BFIs

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor. The register of their shareholders will be closed from Baisakh 21, 2074  to Jestha 4, 2074 for the purpose of this AGM. Only those shares traded one day ahead of the book closure date i.e. Baisakh 20, 2073 are eligible for the bonus shares and for participation in the AGM. Civil Bank had earned net profit of Rs. 17.14 crore in the second quarter of the current fiscal year 2073/74. Its paid up capital stands at Rs 4.58 arba.