Kumari Bank SGM today; to endorse 50% right share

Kumari Bank Limited (KBL) is convening its Special General Meeting (SGM) today (Kartik 29, 2073). The SGM is being held at Lainchaur Banquet, Nepal Scout Compound, Kathmandu at 11: 00 AM. The main agenda of the SGM are:

• To authorize BOD to endorse 50% (2:1) right share to its shareholders.
• After issuance of right share it’s paid up capital will increase and amend article of association and memorandum of association accordingly.

The registers of their shareholders was closed on Kartik 12, 2073 for the purpose of SGM. Only share registered one day ahead of book closure date i.e. Kartik 11, 2073 will be eligible to take part in SGM. Kumari Bank and Kasthamandap Development Bank have signed an agreement for the acquisition process. KBL had earned net profit of Rs 74.01 crore in fourth quarter of the last fiscal year 2072/73 as per unaudited report.