Nepal Bangladesh Bank 22nd AGM today; to endorse 32% bonus & 80% right share

Nepal Bangladesh Bank Limited (NBB) is convening its 22^nd Annual General Meeting (AGM) today (Kartik 8, 2073). The AGM is going to be held at Nepal Pragya Pratisthan, Kamaladi, Kathmandu at 11: 00 AM. Main agendas of the AGM are:

• To endorse 32 percent bonus shares and 1.68 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2072/73.
• To increase its authorized capital up to Rs 10 arba and amend article of association accordingly.
• After distribution of bonus share to endorse 10:8 (80%) right share to its existing shareholders in order to increase its paid up capital as per NRB requirement.
• 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 2072/73 and appointment of auditor. Only those shareholders owning shares till Ashwin 18, 2073 are entitled to the bonus share of the company. The register of their shareholders has remained closed from Ashwin 19, 2073 till today for the purpose of its AGM. NBB had earned net profit of Rs 1.19 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 3.03 arba and after the issuance of 32% bonus share the paid up capital will rise to Rs 4 arba and after the issuance of 80% right share the paid up capital will scale up to Rs 7.22 arba.