Nepal Community Development Bank’s 7th AGM today: to endorse 5.15% bonus shares & 80% right shares

Nepal Community Development Bank Limited (NCDB) is convening its 7^th Annual General Meeting (AGM) today (Jestha 21, 2074).  The AGM is being held at Moneygram Party Palace, Rupandehi, Nepal at 11:00 AM. The main agendas of the AGM are:

• To endorse 5.15% bonus shares and 0.27% cash dividends from the profit it has earned from the las fiscal year 2072/73.
• To endorse 1:0.8 (80%) right shares to the existing shareholders after completion acquisition process with Shangri-La Development Bank Limited.
• Authorized BOD to approve share swap ratio at 1:1.
• To convert promoter and public shares structure to 51:49.
• To increase its issued and paid up capital and amend article of association accordingly.
• To appoint auditor to do final Due Diligence Audit (DDA) and Memorandam of Understanding (MOU).
• Suppose if the aquisition process cancelled then the company will float 120% right share to its shareholders in order to increase its capital as directed by Nepal Rastra Bank.

• To amend article of association and memorandum of association as per directed by company registrar office or Nepal Rastra Bank.

The other agendas of the AGM include endorsement of financial highlights of the fiscal year 2072/73, appointment of auditor and to nominate BOD member from promoter shareholders group. The register of their shareholders was close from Jestha 12, 2074 for the purpose of this AGM. Only those shareholders having shares one trading day ahead of the book closure date i.e. till Jestha 11, 2074 are eligible for bonus share and  participation in the AGM. Nepal Community Development Bank Limited has earned Rs 2.39 crore in the third quarter of the current fiscal year 2073/74. Its paid up capital stands at Rs 22.20 arba. Trading of Nepal Community Development Bank Limited (NCDB) has been suspended on Poush 21, 2073 in Nepal Stock Exchange Limited (NEPSE) for acquisition process with Shangri-la Development Bank Limited.