Jyoti Bikas Bank 9th AGM on Poush 28; to endorse 11.70% bonus & 100% right share

Jyoti Bikas Bank Limited (JBBL) will be convening its 9^th Annual General Meeting (AGM) on Poush 28, 2073. The AGM will be held at Nepal Pragya Pratisthan, Kamaladi, Kathmandu at 11: 00 AM. Main agendas of the AGM are:

• To endorse 11.70% bonus share to its shareholders from the profit it earned in the last fiscal year 2072/73. The fractional bonus share will be rounded to the nearest whole number.

• After issuance of bonus share to endorse 1:1 (100%) ratio right share to its shareholders.

• To authorize BOD to endorse memorandum of understanding (MOU) for the merger/acquisition process and appoint auditor for Due Diligence Audit (DDA).
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of the FY 2072/73, appointment of auditor and to elect 5 BOD members from promoter shareholders group and 3 BOD member from public shareholders group. JBBL has earned net profit of Rs 4.35 crore in the first quarter of the FY 2073/74.Its paid up capital remains at Rs 98.70 crore. After distributing 11.7 percent bonus and 100 percent share, its paid up capital will reach to Rs 1.10 arba. Similary, after issuance of 100 right shares, its paid up capital will reach to Rs 2.20 arba.