Kanchan Dev. Bank to hold 6th AGM on Poush 11; to endorse 25% bonus share

Kanchan Development Bank will be holding its 6^th Annual General Meeting (AGM) on Poush 11, 2072. The AGM will be held at the Hotel Opera Pvt.Ltd, Mahendranagar, Kanchanpur at 11 AM. The main agenda of the AGM are:

• To endorse 25% percent bonus share from the net profit it earned from the fiscal year 2071/72
• To amend the article of association and memorandum of association
• Authorize BOD to initiate the merger/acquisition process with other banks or financial institutions.

Other agendas of the meeting include Financial highlights of 2071/72, appointment of auditor and to endorse 1.315 cash dividend for tax purpose. Only those shareholders owning shares till Mangsir 24 will be entitled to the 25% stock dividend and 25% right shares of the company. The register of their shareholders will remain close from Mangsir 25, 2072 till Poush 11, 2072 for the purpose of its upcoming AGM. 5th AGM of the bank that was held last year had endorsed 25% right shares. At present the bank has paid up capital of Rs 1.80 arba whereas after the issuance of 25% bonus share and 25% right shares, its paid up capital will reach to Rs 2.70 arba.