Nepal Credit and Commerce Bank ‘s SGM on Baisakh 15;  to endorse 50% right share; dividend for 2072/73 undecided

Nepal Credit and Commerce Bank Limited (NCCB) will be conducting its Special General Meeting (SGM) on Baisakh 15, 2074. The SGM is going to be held at Hotel Nirvana, Paklihawa Road , Siddharthanagar, Rupandehi at 11:00 AM. The main agendas of the SGM are:

• To endorse 2:1 (50%) right share to its shareholders.
• After issuance of right share, its capital will increase and amend Article of Association accordingly.
• To amend Article of Association and Memorandum of Association as per directed by registrar office or Nepal Rastra Bank.

NCCB is yet to announce dividend and conduct AGM for the FY 2072/73. It had distributed 16% bonus share in the FY 2071/72. As per the spokesperson for the bank, “We have called for the SGM because we are compelled to issue right share within Ashad end. We will publish a separate notice for AGM soon.” “Dividend for FY 2072/73 has not been decided yet”, added the official. The register of the company will remain close on Baisakh 6, 2074 for the purpose of this SGM. Only those shareholders holding shares traded one day ahead of the book closure date i.e. Baisakh 5, 2074 are eligible for participation in the SGM. NCCB has earned Rs 7.76 crore in the second quarter of the fiscal year 2073/74 as per its unaudited report. Its paid up capital after merger with 4 banks stands at Rs 4.67 arba.