Kamana Bikas Bank to hold its AGM today; to approve 22.60% bonus & 25% right share

Kamana Bikas Bank Limited (KMBL) is holding its 9^thAnnual General Meeting (AGM) on Ashwin 28, 2072 (today). The AGM will be held at the 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 endorse right share in the ratio 4:1 (25%) after bonus share is issued.
• 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.

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 Kamana Bikas Bank and Kaski Finance Limited (KAFIL) has been suspended from August 03, 2015 in Nepal stock exchange for the merger process between the Pokhara based financial institutions. KMBL and KAFIL have signed a Memorandum of Understanding (MOU) for the merger to form a National level development bank, which will be named Kamana Bikas Bank Limited with the logo of Kaski Finance Limited.