Oriental Hotel 22nd & Global IME Bank 11th AGM today; endorsing 24.21% & 20% dividend respectively

Oriental Hotels Limited (OHL) is convening its 22^nd Annual General Meeting (AGM) today (Kartik 23, 2074). The AGM is being held at Nepal Prasasanik Prasichan Kendra, Jawalakhel, Lalitpur at 11:00 AM. The main agendas of the AGM are:

• To endorse 18% bonus shares and 6.21% cash dividend from the net profit of the FY 2073/74.
• To endorse decision for Further Public Offerng (FPO) to maintain promoter – public ratio of 55:45.
• To amend Memorandum of Association (MOA) and Articles of Association (AOA).
• To conduct election for the Board of Directors.

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM was set from Kartik 9 to Kartik 23, 2074. Only those shareholders owning their shares till Kartik 8, 2074, i.e. one day ahead of the book closure date are eligible to participate in the AGM and for proposed dividends. It has earned Rs 17.29 crore in the third quarter of the FY 2073/74. Global IME Bank Limited (GBIME) is also conducting its 11^th Annual General Meeting (AGM) on Kartik 23, 2074. The AGM is being held at Karki Banquet, Babarmahal, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To endorse 10% bonus and 10% cash dividend from the net profit of FY 2073/74.
• To increase issued and paid up capital.
• To increase meeting allowances and other facilities of Board of Directors.
• To amend Memorandum of Association (MOA) and Articles of Association (AOA).
• To endorse decision for provisioning 1% of net profit for Corporate Social Responsibility (CSR).

Other agendas of the AGM are major financial highlights of FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM and proposed dividend was set on Kartik 8 to Kartik 23, 2074. But only those shareholders holding shares one day ahead of the book closure date, i.e. till Kartik 5, 2074 are eligible to participate in the AGM and proposed dividend. The bank has earned net profit of Rs 34.67 crore in first quarter of FY 2074/75. Its paid up capital currently stands at Rs 8.08 arba, and after the issuance of 10% bonus, its paid up capital will reach Rs 8.88 arba. Shareholders of recently acquired Reliable Development Bank Limited are also eligible for the above dividends.