Nepal Bank & Om Development Bank 58th & 11th AGM today; Nepal Bank endorsing decision to issue 1.76 crore unit FPO shares

Nepal Bank Limited (NBL) is convening its 58^th Annual General Meeting (AGM) today (Falgun 25, 2074). The AGM is being held at Nepal APF Club, Halchowk, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To issue 1.76 crore unit Further Public Offering (FPO) shares to the general public to main the capital structure of public-promoter in the ratio of 51:49.
• To give authority to the Board of Directors (BOD) to issue FPO shares and required process.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

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 was set from Falgun 9 to Falgun 25, 2074. Thus, only those shareholders holding their shares till Falgun 8, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. NBL had not announced any dividend from the net profit of FY 2073/74. It had earned Rs 1.63 arba in the second quarter of the FY 2074/75. Om Development Bank Limited (ODBL) is also convening its 11^thAnnual General Meeting (AGM) today (Falgun 25, 2074). The AGM is being held at Hotel Mount Kailash resort, Lakeside, Pokhara at 10:00 AM. The main agendas of the AGM are:

• To shift the registered office of the bank to Kathmandu Metropolitan City, Kathmandu from Chipledhunga, Pokhara
• To endorse 17.69% bonus share
• To expand the bank’s service in other financial sectors
• To increase the meeting allowance of the Board of Directors
• To give authority to the Board of Directors (BOD) for the required process of merger and acquisition.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74, appointment of auditor for the FY 2074/75 and appointment of 3 members of the Board of Directors each from promoter shareholders and public shareholders. The book closure date for the AGM was set from Falgun 14 to Falgun 25, 2074. Thus, only those shareholders holding their shares till Falgun 13, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. It had earned Rs 15.03 crore in the second quarter of the FY 2074/75.