Prime Bank; 8th AGM today; to endorse 18% bonus & 3:1 right share

Prime Commercial Bank Limited (PCBL) is convening its 8th AGM today (Poush 29, 2072). The AGM is going to be held at Nepal Academy Hall, Kamaladi, Kathmandu at 11 am. The main agendas of the meeting are:

• To endorse 18% bonus from the net profit earned of the last fiscal year 2071/72.
• To increase issued capital and paid up capital accordingly
• To issue right shares in the ratio 3:1 after the bonus share is distributed.
• To increase the authorized capital to Rs 9 arba from the present Rs 5 arba.
• Authorize BOD to initiate merger or acquisition process with other banks and financial institutions.
• To authorize the BoD to amend the article of the association as directed by regulatory body

Other agendas of the meeting are are financial highlights of 2070/71, appointment of the auditor and to endorse 0.95% cash dividend for the tax purpose. Only those shareholders owning shares till Poush 14 is entitled to the dividend of the company. The register of their shareholders has been closed from Poush 15 till today for the purpose of its AGM. Prime Commercial Bank had earned net profit of Rs.22.05 crore in the first quarter of the fiscal year 2072/73.