Malika Bikas Bank 16th AGM on Poush 30; to approve 29.14% stock dividend

Malika Bikas Bank Limited (MDBL) is going to convene its 16th Annual General Meeting (AGM) on Poush 30. The AGM will be held at Hotel Devotee,Dhangadhi, Kailali  at  9:00 AM. Main agendas of the AGM are:

• To approve 29.14 percent bonus share and 1.54 percent cash dividend (for tax purpose)from the net profit it earned from the fiscal year 2071/72.
• To increase issued capital from Rs 24.25 crore to Rs 31.32 crore and paid up capital from Rs24.25 crore to Rs 31.32 crore.
• To elect 4 BOD members from promoter shareholders and 2 from public shareholders.
• To amend article of association and memorandum of association as per directed by Office of Company registrar or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of the auditor. Only those shareholders owning shares till Poush 14 will be entitled to the bonus share of the company. The register of their shareholders has been closed from Poush 16, 2072 till Poush 30, 2072 for the purpose of its upcoming (AGM). At present has a paid up capital of Rs 24.25crore. After the issuance of 29.14% bonus shares, its paid up capital will rise to Rs 31.31crore.