Global IME Bank to approve 15.76% stock dividend; 10th AGM today

Global IME Bank Limited (GBIME) is convening its 10^th Annual General Meeting (AGM) today (Chaitra 21, 2073). The AGM is being held at Nepal Pragya Pratisthan, Kamaladi, Kathmandu at 11:00 AM. The main agendas of the AGM are:

1. To endorse 15.76% stock dividend from the profits it earned in FY 2072/73.
2. To endorse consolidated financial statement of FY 2072/73 with its subsidiary Global IME Capital Limited
3. To elect BOD members from the promoter and public shareholders group.
4. To amend the Memorandum of Association and Article of Association as per recommendations received from regulatory authorities
5. To provide authority to BOD for merger/acquisition with other BFIs

Other agendas of the AGM include endorsement of financial highlights of FY 2072/73 and appointment of auditor for the FY 2073/74. The register of their shareholders has been closed from Chaitra 7 to Chaitra 21, 2073. Only those shares traded one day ahead of the book closure date i.e. till Chaitra 6, 2073 are eligible for the bonus shares and for participation in the AGM. GBIME has earned net profit of Rs 91.77 crore in the second quarter of the FY 2073/74. It recently started joint operation with Pacific Development Bank after its acquisition, and is under process of acquiring Reliable Development Bank Limited.