Deva Bikas to convene its 11th AGM today; Bank to endorse 17.10% bonus share

Deva Bikas Bank Limited (DBBL) had published a notice regarding its 11^th AGM to be held on Ashadh 27, 2075 i.e. today. The meeting is going to be held in Nepa Banquet, Khusibu, Kathmandu at 11:00 AM.

 The main agendas of the meeting include:

1. Distribution of 17.10% bonus shares from the profit of Fiscal Year 2073/74 worth Rs 24.70 crore
2. Amendment in the memorandum for the increment of Authorized capital, Issued capital and Paid-up capital
3. Providing authority to the board of directors to make necessary amendments to the memorandum of association.
4. Providing authority to the board of directors to take any decision related to conducting Due Diligence Audit and to make signatures in Memorandum of Understanding.

Other agendas of the meeting includes

1. Endorsement of audited financial report for the fiscal year 2073/74
2. Approval of the statutory auditor and his fees for the former Union Finance Limited and former Sajha Bikas Bank Limited appointed from Shrawan 01 till Kartik 22, 2074 and
3. Endorsement of cash dividend worth Rs 1.30 crore to the shareholders of Deva Bikas Bank holding the shares till Kartik 22, 2074

For the purpose of the AGM, the shareholders register book remained closed from Ashadh 15, 2075 till Ashadh 27, 2075 i.e. the shareholders holding the shares till Ashadh 14 are only be eligible to participate in the upcoming AGM. However, the shareholders holding shares till Kartik 22, 2074 will be eligible to receive the bonus shares as well as cash dividend.

The bank has earned Rs 20.23 crore net profit in the third quarter of the current fiscal year.