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Kathmandu Finance & Gurkha Development Bank separate AGM today; Both BFIs to endorse merger process with each other

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Wed, Dec 16, 2015 2:50 AM on Latest, Featured, AGM/Special AGM,
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Kathmandu Finance Company Limited (KFL) is convening its 21st Annual General Meeting (AGM) today (Poush 1, 2072). The AGM is going to be held at Amritbhog Party Palace, Kalikasthan, Kathmandu at 11:00 AM.

Main Agendas of the AGM are:

  • To endorse 7 percent bonus share and 0.638 percent cash dividend for tax purpose to its shareholders from the net profit it earned in 2071/72 fiscal year. Also to increase issued capital and paid up capital after the issuance of bonus share.
  • Authorize BOD to initiate the final merger agreement of Kathmandu Finance and Gurkha Development Bank by endorsing Due Diligence Audit (DDA) and Share Swap Ratio at 1:1 ratio.
  • Election for BOD members from Kathmandu Finance for the merged entity.
  • Authorize BOD to amend article of association and Memorandum of Association as directed by regulating bodies.

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor and endorse the help provided to earthquake victim.

Kathmandu Finance had earned net profit of Rs. 28.79 lakh in its first quarter of the fiscal year 2072/73.

Gurkha Development Bank (Nepal) Limited (GDBNL) is convening its 11th Annual General Meeting (AGM) today . The AGM is going to be held at Bank Head office, Putalisadak Kathmandu at 11:00 AM.

Main Agendas of the AGM are:

  • Authorized BOD to initiate merger with Kathmandu Finance Limited .
  • To approve the merger of Kathmandu Finance and Gurkha Development Bank by endorsing Due Diligence Audit (DDA) and Share Swap Ratio at 1:1 ratio.
  • Election for BOD members from GDBNL development bank for the merged entity.
  • To endorse the BOD member for merged entity elected by the AGM of Kathmandu Finance Company Limited.
  • To amend article of association and memorandum of association, if any, as per directed by Company Registrar office or the Nepal Rastra Bank, if any.

Other agendas of the AGM include endorsement of financial highlights of 2071/72 and appointment of auditor.

Gurkha Development Bank had earned net profit of Rs. 13 crore in its first quarter of the fiscal year 2072/73.

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