Miteri Dev. Bank 11th AGM on Mangsir 11; to endorse 30% stock dividend; Book closure on Kartik 18

Miteri Development Bank Limited (MDB) will be holding its 11^th Annual General Meeting (AGM) on Mangsir 11, 2073. The AGM will be held at Ratna Inn Hotel, Dharan 9, Sunsari at 10:00 AM. The AGM has following agendas:

• To endorse 30 percent bonus share and 58 percent cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To authorize BOD to endorse memorandum of understanding (MOU) for the merger/acquisition process and appoint auditor for Due Deligence Audit (DDA).
• 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 FY 2072/73 and appointment of auditor. The register of their shareholders will remain closed from Kartik 18, 2073 till Mangsir 11, 2073 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Kartik 17 will be eligible for the bonus shares. As the development bank has been issuing 50% right share to its shareholders from Kartik 1, the right shareholders will not be eligible for the bonus share. MDB has earned net profit of Rs 9.72 crore in the fourth quarter of the last fiscal year 2072/73. It’s paid up capital remains at Rs 21.12 crore. After issuance of 50 percent right and 30 percent bonus share distribution, its paid up capital will reach to Rs 38.01 crore.