Fewa Bikas Bank 8th AGM on Chait 30; to endorse 21.90% bonus & 30% right share

Fewa Bikas Bank Limited (FBBL) will be convening its 8^th Annual General Meeting (AGM) on Chaitra 30, 2072. The AGM will be held at Hotel Pokhara Grand, Pardi, Pokhara at 8:15 AM. Main agendas of the AGM are:

• To endorse 21.90 percent bonus shares from the net profit it earned from the fiscal year 2071/72.
• To convert promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the bank will stand at 51:49 percent.
• To endorse 10:3 (30%) right shares after bonus share is issued.
• To increase paid up, authorized and issued capital.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 5 BOD member from promoter shareholders group and 3BOD member from public shareholders group. Only those shareholders owning shares till Chaitra 15 will be entitled to the dividend of the company. The register of their shareholders will remain close from Chaitra 16, 2072 till Chaitra 30, 2072 for the purpose of its upcoming AGM. Fewa Bikas Bank has earned net profit of Rs 11.02 crore in the second quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 81.62 crore and after the issuance of 21.9% bonus share the paid up capital will rise to Rs 99.49 crore.