Mega Bank’s 5th AGM today; to endorse 10% stock dividend, 4:1 right shares

Mega Bank Nepal Limited (MEGA) is conducting its 5th Annual General Meeting (AGM) today (Poush 26, 2072). The AGM is going to be held at Army Officers Club, Bhadrakali, Kathmandu at 11 AM. The main agendas of the meeting are:

• To endorse 10 percent bonus share from the net profit it earned from the fiscal year 2071/72
• To amend the article of the association and memorandum of the association to increase the authorized capital from Rs 4 arba to Rs 10 arba, issued capital to Rs 4.05 arba from 2.60 arba and paid up capital to Rs 4.05 arba from 2.60 arba.
• To endorse the swap ratio of 104.25:67 while merging with Paschimanchal Development Bank
• After the completion of the merger with Paschimanchal Development Bank, the bank will be issuing right shares in the ratio 4:1.
• To maintain 49% public shareholders stake and 51% promoter shareholders stake as per the directive of Neal Rastra Bank
• To endorse a special proposal of merger of Mega Bank Limited with Paschimanchal Bank Limited
• To authorize BoD to initiate Merger and Acquisition with suitable Bank and Financial institutions

The other agendas of the meeting are include financial highlights of 2070/71, to endorse 0.53% cash dividend for the tax purpose, appointment of auditor, to elect 6 BoD memebers from Promoter Shareholders Group Only those shareholders owning shares till Magh 14, 2071 will be entitled to the dividend of the company. At present the trading of Mega bank has been halted it Nepse due to its ongoing merger process with Paschimanchal Development Bank Limited.