Infrastructure Dev. Bank 12th AGM on Poush29; to approve 13.70% bonus share & merger with other BFI

Infrastructure Development Bank Limited (IDBL) will be convening its 12th Annual General Meeting (AGM) on Poush 29, 2072. The AGM is going to be held at Baneswor Banquet Thapagau, New-Baneswor, Kathmandu at 11:30 AM. Main agendas of the AGM are:

• To approve 13.70 percent bonus share and 0.72 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• After issuance of bonus share to increase paid up and issued capital up to Rs 94.09 crore from the existing Rs 82.75 crore.
• To approve the merger/acquisition of NCC bank, Supreme Development Bank, International Development Bank and Supreme Development Bank by endorsing Due Diligence Audit (DDA) and Memorandum of Understanding (MOU).
• To amend article of association and memorandum of association, if any, as per directed by registrar officer or Nepal Rastra Bank

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to endorse help provided to earthquake victim. Only those shareholders owning shares till Poush 16 (Thursday) will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 19, 2072 till Poush 29, 2072 for the purpose of its upcoming (AGM), IDBL had earned net profit of Rs. 1.79 lakh in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs 82.75 crore. After distributing 13.7 percent bonus share it’s paid up capital will rise to Rs 94.08 crore.