Prime Bank and Kailash Bikas Bank to convene AGM on Poush 25, 2076; both to endorse merger decision

Prime Commercial Bank Limited (PCBL) has announced that the 12^th AGM of the company will be held on Poush 25, 2076 (January 10, 2020) at Rashtra Sabha Griha; Prithvi Marg from 10 AM onwards.

Among other things the AGM will endorse 16% bonus shares worth Rs.1.54 Ara out of the profits of FY 75/76 for the shareholders. Decision to merger with Kailash Bikas Bank (KBBL) will also be endorsed in the AGM.

For this purpose, the books of the bank will remain closed on Poush 14, 2076. Investors holding shares of the bank till Poush 13, 2076 will be eligible to claim the dividend and participate in the AGM of the bank.

On the same day, Kailash Bikas Bank (KBBL) will be convening 26^th AGM at Amritbhog Party Palace, Kaikasthan from 10 AM onwards.

The AGM will endorse decision to distribute 16% bonus shares worth Rs.40.33 Crore and 2.77% cash dividend (including tax) worth Rs.6.98 Crore out of the profits of FY 75/76 for the shareholders. The bank will endorse merger decision with Prime Commercial Bank Limited (PCBL) at share swap ratio of 1:0.94.

Due to merger, the trading in security of the bank has been halted since Asadh 22, 2076. For AGM and dividend purpose, the books of the bank will remain closed on Poush 10, 2076.