Prime Bank holding spcl AGM on kartik 19; 19% promoter shares to convert into ordinary

ShareSansar, October 21:

Prime Commercial Bank is holding it special annual general meeting (AGM) on Kartik 19.

According to a notice published by the bank, the 223rd meeting of the board of directors (BoD) held on Sunday decided to convene the special AGM at Amrapali Banquet, Baluwatar of Kartik 19.
 
The special AGM is likely to make decision on the conversion of promoter shares to the ordinary shares.

If the proposal of conversion the promoter shares to the ordinary shares is endorsed from the special AGM, the promoter shares to ordinary shares ratio of the bank will stand at 51:49 percent.

The current structure of the bank is 70: 30 promoter-public shareholder ratios.  

This means that 19 percent of promoter shares will be converted into the ordinary shares.

The bank, in its statement, stated that its shareholders book will remain closed on Kartik 11 for the AGM purpose.