Muktinath Bikas Bank 10th AGM on Mangsir 4; to endorse 34% bonus & 40% right share; Book closure on Kartik 24

Muktinath Bikas Bank Limited (MNBBL) will be convening its 10^th Annual General Meeting (AGM) on Mangsir 4, 2073. The AGM is going to be held at Hotel Pokhara Grand, Pardi, Birauta, Pokhara at 8: 30 AM. Main agendas of the AGM are:

• To replace the central branch office of the bank from Prithvi Chowk, Pokhara to Kamaladi, Kathmandu.
• To endorse 34 percent bonus share from the net profit it earned from the fiscal year 2071/72.

• To issue 10:4 (40%) right share after bonus share distribution. After bonus and right share is issued, it’s paid up capital will increase and to amend the article of association accordingly.
• To increase it’s issued capital from existing Rs 1.25 arba to Rs 2.15 arba.
• To authorize BOD to endorse memorandum of understanding (MOU) for the acquisition/merger 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 24, 2073 till Mangsir 4, 2073 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Kartik 23 will be eligible for the bonus shares. Mukinath Bikas Bank has earned net profit of Rs 9.97 crore in the first quarter of the current fiscal year 2073/74.