Himalayan Bank AGM to approve 30% bonus share; 24th AGM today

Himalayan Bank Limited (HBL) is convening its 24^th Annual General Meeting (AGM) on Poush 22, 2073. The AGM is being held at Tribhuvan Army Officers Club, Bhadrakali, Kathmandu at 11: 30 AM. The main agendas of the AGM is to endorse 30% bonus share and 1.57% cash dividend (for tax purpose) to its shareholders from the profit it earned in the last fiscal year 2072/73. Another agenda is to amend Article of Association and Memorandum of Understanding as per directed by registrar officer or Nepal Rastra Bank. Himalayan Bank had issued 7:1 (14. 28%) right shares to its existing shareholders from Kartik 26, 2073 till Mangsir 30, 2073. The bank has made it clear that the current right share applicants are not eligible for this 30 percent bonus shares. Other main agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shares registered one trading day ahead of the book closure date, i.e Poush 5, 2073 were entitled to the dividend of the company. The register of their shareholders was closed from Poush 6, 2073 till today for the purpose of its AGM. Himalayan Bank has earned net profit of Rs 43.84 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report. Its paid up capital remains at Rs 4.96 arba. After 30% bonus share distribution, its paid up capital will reach to Rs 6.44 arba. As the 14.28% right shares were not allotted before the book closure data, those right shareholders will not get the proposed bonus shares. The paid up capital of the bank after right share adjustment will reach Rs 5.66 arba. Eventually, the paid up capital of the bank will reach to Rs 7.15 arba after bonus adjustment.