Nepal Credit and Commerce Bank Limited (NCCB) will be holding its 18th Annual General Meeting (AGM) on Falgun 28, 2072. The AGM will be held at Nirvana Hotel, Siddhartha Nagar, Rupandehi at 10 AM.
The main agenda of the AGM are:
- To endorse 16 percent bonus share and 0.84 percent cash dividend (for tax purpose) to its shareholders from the net profit earned in the last fiscal year 2071/72.
- As per 16th& 17th AGM decision of merger/acquisition, memorandum of understanding (MOU) was signed on Mangsir 11, 2072 to Poush 27, 2072, for the same purpose the article of association and memorandum of association will be amended after the completion of merger/acquisition process.
- Authorize BOD to amend article of association and memorandum of understanding as per directed by registrar officer or the Nepal Rastra Bank.
Other main agendas of the AGM include financial highlights of 2071/72 and appointment of auditor.
NCCB has earned net profit of Rs 24.68 crore in the second quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.02 arba. After distributing 16 percent bonus share it’s paid up capital will rise to Rs.2.34 arba.
For the purpose of merger the trading of NCC bank was halted on Mangsir 13, 2072. The bank have assumed book closure date on the same day. Only those shareholders who have bought the share before Mangsir 13 will get the bonus share.
Likewise,
Kumari Bank Limited (KBL) will be convening its 15
th Annual General Meeting (AGM) on Falgun 28, 2072. The AGM will be held at Lainchor Banquet, Nepal Scout Compound, Lainchor, Kathnmandu at !!:00 AM.
The main agenda of the AGM is to endorse 11 percent bonus share and 0.58 percent cash dividend (for tax purpose) to its shareholders from the net profit earned in the last fiscal years 2071/72. To provide rights to BOD for the amendment of article of association as per requirement to achieve the objective of bank.
The others agendas of the meeting includes financial highlights of 2071/72 and appointment of auditor.
The trading of shares of KBL was halted on Poush 30, 2072 for the purpose of merger. The bank has considered book closure date as Poush 30 and only those shareholders who have bought the shares till Poush 29 will get the bonus share.
Kumari bank has earned net profit of Rs 21.01 crore in the second quarter of the fiscal year 2072/73. It’s paid up capital remains at Rs 2.43 arba and after distributing 11 percent bonus share it’s paid up capital will rise to Rs.2.69 arba.
Kumari Bank, Infrastructure Development Bank Ltd, International Development Bank, Apex Development Bank Ltd, Supreme Development Bank and Nepal Credit and Commerce Bank have signed a memorandum of understanding (MoU) to enter into a merger process.
If the current merger process goes as planned, the paid-up capital of the merged entity will reach Rs 8.21 arba.
