Miteri Development Bank 12th AGM on Poush 22; to endorse 31.478% bonus shares

Miteri Development Bank Limited (MDB) will be convening its 12^th Annual General Meeting (AGM) on Poush 22, 2074. The AGM is going to be held at Sunsari Uddhyog Banijya Sangh, Dharan – 1, Sunsari at 10:00 AM. The main agendas of the AGM are:

• To endorse 31.478% bonus shares and Rs 63,00,365.47 cash dividend (for tax purpose) from the net profit of FY 2073/74.
• To increase issued and paid up capital.
• To conduct election and determination of allowances of Board of Directors (BOD).
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
• To merge or acquire other Bank and Financial Institutions (BFIs).

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 4 to Poush 22, 2074. But those shareholders owning shares till Poush 3, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. MDB’s current paid-up capital stands at Rs 38.02 crore and after issuing the bonus share, its paid-up capital will reach Rs 50 crore. As a 1-3 district level development bank, MDB will have reached NRB’s minimum capital requirement of Rs 50 crore. Miteri Development Bank had earned net profit of Rs 2.33 crore in the first quarter FY 2074/75. Announcement: