Garima Bikas Bank 9th AGM on Poush 30; to endorse 20% bonus share

Garima Bikas Bank Limited (GBBL) will be convening its 9th Annual General Meeting (AGM) on Poush 30, 2072. The AGM is going to be held at Pokhara Grand Hotel, Birauta, Pokhara at 11:30 AM. Main agendas of the AGM are:

• To approve 20 percent bonus share from the net profit it earned from the fiscal year 2071/72.
• After issuance of bonus share to increase paid up and issued capital and amend article of association accordingly. Also to increase authorized capital up to Rs3 arba.
• Authorize BOD to initiate merger/acquisition with other BFIs by endorsing Due Diligence Audit (DDA) and Memorandum of Understanding (MOU).
• To amend article of association and memorandum of associationas per directed by Company Registrar office or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 4 BOD member from promoter shareholders group and 3 BOD member from public shareholders group. Only those shareholders owning shares till Poush 13will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 14, 2072 till Poush 30, 2072 for the purpose of its upcoming (AGM), GBBL had earned net profit of Rs. 2.91 crore in the first quarter of current fiscal year 2072/73 unaudited report.