Kankai Bikas Bank 11th AGM on Magh 16; endorsing 6.12% bonus shares

Kankai Bikas Bank Limited (KNBL) will be convening its 11th Annual General Meeting (AGM) on Magh 16, 2074. The AGM is going to be held at Gorkha Development Store Meeting Hall, Damak, Jhapa at 1:00 PM. The main agendas of the AGM are:

• To endorse 6.15% bonus shares and 0.322% cash dividend (for tax) from the net profit of FY 2073/74.
• To conduct election of Board of Directors (BOD).
• To change the registered address of the company.
• To increase issued and paid up capital.
• To endorse the decision for the facilities and allowances of BOD and CEO.
• To contribute 1% of net profit as Corporate Social Responsibility (CSR).
• To merge or acquire with other Bank and Financial Institutions (BFIs).
• To donate Rs 51,000 for Sakuna Bahumukhi Campus.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set on Magh 2, 2074. Thus, only those shareholders holding their shares till Poush 30, 2074 i.e. days ahead of the book closure date are eligible to participate in the AGM and proposed dividend. Its paid up capital will reach to Rs 50 crore from existing Rs 47.10 crore after adjustment of bonus shares. Its LTP stood at Rs 163 as of last trading day. Announcement: