NMB Bank 20th AGM on Falgun 3; to endorse 8% bonus share, Foreign partner to invest additional 20%

NMB Bank Limited (NMB) will be convening its 20^th Annual General Meeting (AGM) on Falgun 3, 2072. The AGM is going to be held at Nepal Administrative Staff College, Jawalakhel, Lalitpur at 10:00 AM. Main agendas of the AGM are:

• To increase authorized capital from existing Rs 5 arba to Rs 8 arba .
• To endorse 8 % bonus share and 0.42 percent cash dividend from the net profit it earned in the last fiscal year 2071/72.
• To increase issued and paid up capital after the issuance of bonus share.
• To approve the further issuance of 20% share of foreign partner Nederlandse Financierings-Matschappij Voor Ontwinkkelingsladen N.V (FMO).
• Authorize BOD to introduce new shares to FMO for further issue and also for the same issue to endorse Memorandum of Understanding (MOU)
• To increase issued and paid up capital after the further issuance of shares to FMO. To adjust the share structure after the issuance of new shares.
• To amend article of association and memorandum of association, if any, as per directed by Office of Company Registrar or Nepal Rastra Bank.
• To increase meeting allowance of BOD members.
• To elect 3 BOD members from public shareholders group and 5 BOD member from promoter shareholders group.

  Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Magh11 will be entitled to the dividend of the company. The register of their shareholders will be closed from Magh 12, 2072 till Falgun 3, 2072 for the purpose of its AGM. NMB Bank had earned net profit of Rs 14.73 crore in its first quarter of the fiscal year 2072/73.