Mission Development Bank 8th AGM on Poush 27; endorsing 20% bonus shares

Mission Development Bank Limited (MIDBL) will be convening 8^th Annual General Meeting (AGM) on Poush 27, 2074. The AGM is going to be held at Siddhartha Cottage Restaurant Meeting Hall, Butwal, Rupandehi at 11:00 AM. The main agendas of the AGM are:

• To endorse 22% bonus shares and 1.06% cash dividend from the net profit of FY 2073/74.
• To conduct election of Board of Directors (BOD).
• To merge or acquire with other Bank and Financial Institutions.
• To give authority to the BOD for the decision passed by the AGM while submitting documents for the approval from CRO, Nepal Rastra Bank and other authority.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set from Poush 16 to Poush 27, 2074. Only shareholders owning their shares till Poush 15, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. Its current paid up capital stands at Rs 43.27. After distribution of 20% bonus shares, it will reach to Rs 51.92 crore. It had earned Rs 1.41 crore in the first quarter of the FY 2074/75.