Machhapuchchhre Bank 17th AGM today; to endorse 16% bonus & 50% right share; trading to resume soon in NEPSE
Sun, May 8, 2016 3:00 AM on Latest, Featured, AGM/Special AGM,
Machhapuchchhre Bank Limited (MBL) is convening its 17th Annual General Meeting (AGM) today (Baisakh 26, 2073). The AGM is going to be held at Hotel Pokhara Grand, Pardi, Pokhara, Kaski at 11:00 AM.
Main agendas of the AGM are:
- To endorse 16 percent bonus shares and 0.84 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72.
- To endorse 2:1(50%) right share after bonus share is issued.
- To increase authorized capital up to Rs 10 arba and paid up capital will increase after bonus and right share is issued.
- Authorize BOD to initiate merger and acquisition process by endorsing Due Diligence Audit (DDA) and memorandum of Understanding (MOU).
- Conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares from existing 66.56:15.56. After the conversion, the promoter share to ordinary share ratio of the bank will stand at 51:49 percent.
- To endorse help provided to earthquake victim of Rs 32.49 lakh as a part of corporate social responsibility (CSR).
- To increase meeting allowance of BOD members.
- To shift the head office of the bank from Pokhara Submetropolitan City, ward no:9 to Kathmandu Metropolitan City, Ward no-2, Lazimpat.
- To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
