Deva Bikas Bank 10th AGM to approve 14% bonus share; AGM on Poush 29; Book closure for 14% bonus & 50% right share on Poush 18

Deva Bikas Bank Limited (DBBL) will be convening its 10^th Annual General Meeting (AGM) on Poush 29, 2073. The AGM is going to be held at Lainchaur Banquet, at 11:00 AM. Main agendas of the AGM are:

• To endorse 14 percent bonus share from the net profit it earned from the fiscal year 2072/73.
• After issuance of bonus share its authorized, issued and paid up capital will increase and amend article of association accordingly.
• To endorse help proved to needy people as a part of social corporate responsibility.

• To authorize BOD to endorse Memorandum of Understanding (MOU) for the merger/acquisition process and appoint auditor for 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 the FY 2072/73 and appointment of auditor. The book closure date for the AGM has been set for Poush 18, 2073 till Poush 29, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Poush 17 2073 will be eligible for the 14 percent bonus shares and 50 percent right share which was approved from Securities board of Nepal (SEBON) and its SGM. Deva Bikas Bank will be issuing 2:1 (50%) rights issue of 4,405,440.39 numbers of equity shares at the face value NPR 100/-each to be issued to the existing shareholders at par. DBBL has earned net profit of Rs 5.06 crore in the first quarter of the current fiscal year 2073/74. It’s paid up capital remains at Rs 88.10 crore. After issuance of 14% bonus & 50 percent right share, its paid up capital will reach to Rs 1.44 arba.