Kailash Bikas Bank 23rd AGM on Poush 29; to approve 25% bonus share; Book closure for 25% bonus & 20% right share on Poush 14

Kailash Bikas Bank Limited (KBBL) will be convening its 23^rd Annual General Meeting (AGM) on Poush 29, 2073. The AGM is going to be held at Amritbhog Caters, Kalikastan, Dillibazar, Kathmandu at 10:00 AM. Main agendas of the AGM are:

• To endorse 25 percent bonus share from the net profit it earned from the fiscal year 2072/73.

• 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 3 BOD members from promoter shareholders group and 3 BOD members from public shareholders group. The book closure date for the AGM has been set for Poush 14, 2073 till Poush 29, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Poush 13 2073 will be eligible for the 25 percent bonus shares and 20 percent (5:1)  right share which was approved from Securities board of Nepal (SEBON) and its AGM. Kailash Bikas Bank will be issuing 5:1 (20%) rights issue of 3,160,672 numbers of equity shares at the face value NPR 100/-each to be issued to the existing shareholders at par. Global IME Capital has been assigned as the issue manager for the right issue. KBBL has earned net profit of Rs 13.01 crore in the first quarter of the current fiscal year 2073/74. It’s paid up capital remains at Rs 1.58 arba. After issuance of 25% bonus & 20% right share, its paid up capital will reach to Rs  2.29 arba.