Green Development Bank’s 4th AGM today; to endorse 400% right shares

Green Development Bank Limited (GRDBL) is convening its 4th Annual General Meeting (AGM) today (Magh 28, 2073). The AGM is being held at Hotel Peace Palace, Hari Shankar Road, Baglung at 11: 00 AM. Main agendas of the AGM are:

• To endorse the agenda of issuing 1:4 ratio right share to its shareholders
• Other main agendas of the AGM include financial highlights of 2072/73, appointment of auditor and election of BOD members from public shareholders group.

Only those shares registered one trading day ahead of the book closure date, i.e. Magh 12, 2073 were entitled to participate in the AGM of the company. The register of shareholders was closed from Magh 12, 2073 till today (Magh 28, 2073) for the purpose of its AGM. Nepal Rastra Bank’s (NRB) Monetary Policy has directed 1-3 district level development banks to maintain their paid up capital to a minimum of Rs 50 crore for the FY 2073/74. At present, the company has paid up capital of Rs 10 crore. In the FY 2073/74, the development bank will issue 1:4 (40 lakh unit shares worth Rs 40 crore @ Rs 100 per unit) to its shareholders. With this, the paid up capital will reach to Rs 50 crore and the 3-district level development bank will meet NRB requirement.