Kamana Bikas Bank AGM on Ashwin 28; to approve 22.60% bonus

Kamana Bikas Bank Limited (KMBL) is holding its 9^th Annual General Meeting (AGM) on Ashwin 28, 2072. The AGM will be held at Pokhara Grand Hotel, Pardi Birauta,Pokhara at 8:30 AM. The main agenda of the AGM are:

• To endorse 22.60 percent bonus share and 1.19  cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72
• To nullify the earlier decision to issue right share issue in the ratio 4:1 (25%)
• Increment of issued capital and paid up capital up to Rs 34.11 crore and to amend article of association accordingly.
• To convert promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio the development bank will stand at 51:49.

  Other Agendas of the AGM include Financial highlights of 2071/72, appointment of auditor. Also to elect 5 BOD members, from promoter shareholders group, Trading of KamanaBikasBankandKaski Finance has been suspended from August 3, 2015 in Nepal stockexchange for the merger process between the Pokhara based financial institutions. KMBL and KAFILhave signed a Memorandum of Understanding (MOU) for the merger to form a National level development bank, which will be named KamanaBikas Bank Limited with the logo of Kaski Finance Limited.