Laxmi Bank 17th AGM today, to endorse 10% bonus shares

Laxmi Bank Limited (LBL) is convening its 7^th Annual General Meeting (AGM) today (Mangsir 28, 2074). The AGM is being held at Agrawal Bhawan, Kamalpokhari, Kathmandu at 2:00 PM. The main agendas of the AGM are:

• To endorse 10% bonus shares and 0.53% cash dividend (for tax purpose) from the net profit of FY 2073/74.
• To increase issued and paid up capital.
• To continue the power of attorney given to the Board of Directors (BOD) for the process of merger and acquisitions.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM was set on Mangsir 11,2074. Thus only those shareholders owning shares till Mangsir 10, 2074, i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed bonus shares. LBL had announced 10% bonus shares and 0.53% cash dividend (for tax purpose) to its shareholders from the net profit it had earned in the FY 2073/74. Its current paid up capital stands at Rs 7.47 arba. After 10% bonus share distribution, it will reach to Rs 8.21 arba. It had earned Rs 17.09 crore in the first quarter of the FY 2074/75.