Everest Bank 22nd AGM on Poush 23; to endorse 70% bonus & 33.33% right share; Book Closure for bonus on Poush 6

Everest Bank Limited (EBL) will be convening its 22^nd Annual General Meeting (AGM) on Poush 23, 2073. The AGM will be held at Lainchaur Banquet, Lainchaur , Kathmandu at 11: 00 AM. Main agendas of the AGM are:

• To endorse 70% bonus share and 3.68% cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2072/73.
• To endorse 3:1 (33.33) right share after issuance of bonus share as per its capital plan to Nepal Rastra Bank (NRB).
• To amend Article of Association as its paid up capital increased after conversion of 7% Convertible preference shares in to public share.
• To authorize BOD to endorse merger/acquisition process with other BFIs.
• To amend Article of Association and Memorandum of Association as per directed by registrar officer or Nepal Rastra Bank.

At present, the bank’s paid up capital remains at Rs 2.62 arba as on Ashwin end of FY 2072/73. After the conversion of its preference share worth Rs 4 crore on Ashwin of the same fiscal year, its paid up capital has reached to Rs 2.66 arba. Similarly, after distribution of 70% bonus share, the paid up capital will rise to Rs 4.52 arba. After issuance of 33.33% right share, the bank’s capital will surge to Rs 6.03 arba. The remaining capital will be adjusted from the net profit of FY 2073/74 to accelerate its paid up capital up to Rs 8 arba. Other main agendas of the AGM include financial highlights of 2072/73, appointment of auditor and election 2 BOD members from public shareholders group. Only those shares registered one trading day ahead of the book closure date, i.e Poush 5 2073 will be entitled to the dividend of the company. The register of its shareholders will be closed from Poush 6, 2073 till Poush 22, 2073 for the purpose of its AGM. A separate book closure date will be published for the right share. EBL has earned net profit of Rs 51.34 crore in the first quarter of the fiscal year 2073/74 as per unaudited report.