Karnali Development Bank's SGM on Magh 15, to endorse 225% right shares

Karnali Development Bank Limited will be convening its Special General Meeting (SGM) on Magh 15, 2073. The SGM will be held at Swastik Cottage, Surkhet Road, Nepalgunj at 11: 00 AM. The major agenda of the SGM is to endorse issue of 1:2.25 right shares to its shareholders. The register of their shareholders will remain closed from Poush 28, 2073 for the purpose of its SGM. The existing capital of the company is Rs 15.10 crore and after the issuance of the right share, the capital will reach Rs 49.075 crore. As per NRB guidelines, company need to increase its paid up capital to Rs 50 crore by the end of fiscal year 2074/75. So, the remaining shortfall on capital will be matched by issuing bonus shares. The company has earned Rs 5.14 million during the first quarter of this fiscal year 2073/74 as per its unaudited quarterly report.