Kankai Bikas Bank & Mahalaxmi Finance AGM on Poush 18 & Mangsir 25 respectively

Kankai Bikas Bank Limited (KNBL) will be convening its 9th Annual General Meeting (AGM) on Poush 18, 2072. The AGM will be held at Marwadi Sewa Samiti Bhawan, Kathmandu at 11:00 AM. Main Agendas of the AGM are:

• To endorse 25% percent bonus share to its shareholders and 1.31 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To increase Issued and paid up capital up to Rs 12.50 crore.
• Conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the finance will stand at 51:49 percent.
• Authorize BOD to initiate merger and acquisition process with other financial institutions.
• 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 2071/72, appointment of auditor and endorse the help provided to earthquake victims, Only those shareholders owning shares till Mangsir 16 will be entitled to the dividend of the company. The register of their shareholders will remain close from Mangsir 17, 2072 till Poush 18, 2072 for the purpose of its upcoming (AGM). KankaiBikas Bank had earned net profit of Rs 48.22 lakh in its first quarter of the fiscal year 2072/73. Likewise, Mahalaxmi Finance Company Limited (MFL) will be convening its 20^th Annual General Meeting (AGM) on Mangsir 25, 2072 at 11:30 AM. The AGM will be held at Yellow Pagoda, Kantipath, Kathmandu. Main agendas of the AGM are:

• To endorse 15 percent bonus share and 0.79 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• Authorize BOD to initiate acquisition/ merger process with other financial institutions.
• To authorize BOD to amend the article of association and memorandum of association as directed by regulating authorities.

Other Agendas of the AGM include Financial highlights of 2071/72, appointment of auditor and endorse the help provided to earthquake victims, At present Mahalaxmi Finance has a paid up capital of Rs. 42 crore. After the issuance of 15 percent bonus share its paid up capital will reach to Rs 48.30 crore .