Laxmi Bank to endorse 100% right share; 15th AGM today

Laxmi Bank Limited (LBL) is convening its 15th Annual General Meeting (AGM) today (Magh 28, 2072). The AGM is going to start at 2:00 pm at Agrawal Bhawan, Kamalpokhari, Kathmandu. Main agendas of the AGM are:

• To endorse 1:1(100%) right shares.
• After the distribution of right share, to increase issued and paid up capital.
• To increase authorized capital up to Rs 8arba.
• Authorize BOD to initiate merger/acquisition with other BFIs.
• To amend article of association and memorandum of association as per directed by regulatory bodies.
• To donate grants to different organization as a part of corporate social responsibility.

Other agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. The register of their shareholders has been closed from Magh11, 2072 till today for the purpose of its AGM. Laxmi Bank had earned net profit of Rs. 11.03 crore for the first quarter of the current fiscal year 2072/73. It’s paid up capital remains at Rs. 3.03 arba and after distribution of 100 percent right shares it’s paid up capital will reach Rs 6.06 arba.