Nepal SBI Bank to convene AGM on Magh 24; to endorse 27% bonus shares and right shares worth Rs 2.60 arba

Nepal SBI Bank Limited will be convening its Annual General Meeting (AGM) on Magh 24, 2072. The AGM will be held at the Tribhuwan Army Officers Club, Kathmandu at 11 am. Main agendas of the AGM are:

• To increase the authorized capital to Rs 10 arba from the existing 7 arba.
• To endorse 27% bonus share from the net profit it earned from the fiscal year 2071/72.
• To endorse right share of maximum Rs 2.60 arba and fix a premium rate on the basis of net worth of the bank and authorize BoD to fix the ratio in which right shares will be issued, the amount of the right shares and phase to issue right shares.
• To amend the article of the association to increase the authorize capital to Rs 10 arba, issued capital to RS 6.49 arba and Paid up capital to Rs 6.49 arba.
• To endorse the help provided to the earthquake victim.

Other Agendas of the AGM include Financial highlights of 2071/72, to endorse 1.42% cash dividend and appointment of auditor. Only those shareholders owning shares till Magh 4 will be entitled to the dividend of the company. The register of their shareholders will remain close from Magh 5, 2072 till Magh 24,2072 for the purpose of its upcoming (AGM) whereas, a separate book closure date will be published for the right shares.