Karnali Development Bank to endorse 225% right share; SGM on Ashad 3

Karnali Development Bank Limited (KRBL) will be convening its Special General Meeting (SGM) on Ashad 3, 2074. The SGM will be held at Kalpataru Hotel, Newroad, Nepalgunj at 4: 00 PM. The main agenda of the SGM is to endorse right share in the ratio 1:2.25 (225%) to its shareholders in order to maintain paid up capital requirement as directed by Nepal Rastra Bank. As per the SGM notice published today, the right share is to be issued on its current paid up capital of Rs 15.10 crore without the additional paid up capital after bonus share issuance. Earlier, KRBL's SGM held on Falgun 21, 2073 was called for to endorse 225% right shares, but had endorsed issuance of 175% right shares. Now, this SGM is being called to issue 225% right shares. The registers of their shareholders was closed on Jestha 22, 2074  till Ashad 3, 2074 for the purpose of SGM. Only share registered one day ahead of book closure date i.e. Jestha 21, 2074 will be eligible to take part in SGM. KRBL had earned net profit of Rs 38.03 lakh  in third quarter of the last fiscal year 2073/74 as per unaudited report. Its paid up capital stand at Rs 15.10 crore and after issuance of 225% right share its paid up capital will reach Rs 49.07 crore. After the capitalization of this right share and 8% bonus share, its paid up capital will reach Rs 50.28 crore.