Nepal SBI Bank convening its 23rd AGM today; to endorse 28% bonus share

Nepal SBI Bank Limited (SBI) will be convening its 23rd Annual General Meeting (AGM) today. The AGM is going to be held at Army Officers Club, Bhadrakali, Kathmandu at 11: 00 AM. Main agendas of the AGM are:

• To endorse 28% bonus share and 1.53% cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2072/73.
• To endorse the agendas to manage fraction share to maintain the promoter public ratio to 70:30 respectively after the issuance of 10:4 rights share to its shareholders.
• To endorse Rs 26.60 lakh financial help as a part of corporate social responsibility (CSR).
• To amend Article of Association and Memorandum of Association on following things;

1. After issuance of bonus share, its paid up and issue capital will increase, and amend Article of Association accordingly.

• To approve the consolidated financial statement of its subsidiary “Nepal SBI Merchant Banking Limited”.
• To increase the allowance of BOD’s members.
• Other main agendas of the AGM include financial highlights of 2072/73, appointment of auditor.

Only those shares registered one trading day ahead of the book closure date, i.e Magh 23, 2073 were entitled to the dividend of the company. The register of their shareholders is closed from Magh 23, 2073 till Magh 27, 2073 for the purpose of its AGM. Nepal SBI Bank Limited has earned net profit of Rs 75.87 crore till the second quarter of the fiscal year 2073/74 as per its unaudited report. Nepal SBI Bank Limited recently issued 67,767.87 units FPO at Rs 971 per share to general public to maintain promoter public share holding structure at 70:30 respectively. The issued FPO was allotted this Sunday, and the allottees are also eligible for the proposed bonus shares.