Mission Dev. Bank 6th AGM today; to endorse 100% right & 13% bonus share

Mission Development Bank Limited (MIDBL) is convening its 10th Annual General Meeting (AGM) today (Falgun 30, 2072). The AGM is going to be held at Dreamland Gold Resort Meeting Hall, Manigram, Rupandehi at 8:00 AM. Main agendas of the AGM are:

• To approve 13 percent bonus share and 0.53 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72.
• To endorse 1:1 (100%) ratio right share after bonus share is issued.
• Authorized BOD to initiate merger/acquisition process with other BFI.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 6 BOD member from promoter shareholders group. Only those shareholders owning shares till Falgun 15 is entitled to the bonus share of the company. The register of their shareholders has been closed from Falgun 16, 2072 till today for the purpose of its AGM. Mission Development Bank earned 1.77 crore in the second quarter of the fiscal year 2072/73.