Prime Commercial Bank 10th, Gurkhas Finance 23rd & Shivam Cement 2nd AGM today, Prime endorsing 27% bonus shares & Shivam to endorse 10% IPO decision

Prime Commercial Bank Limited (PCBL) is convening its 10^thAnnual General Meeting (AGM) today (Poush 25, 2074). The AGM is being held at Army Officers Club, Kathmandu at 10:00 AM. The main agendas of the AGM are:

• To endorse 27% bonus shares from the net profit of FY 2073/74.
• To conduct election of Board of Directors (BOD).
• To increase issued and paid up capital.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of the FY 2073/74 and appointment of auditor for FY 2074/75. The book closure date for the AGM was set on Poush 5, 2074. Thus, shareholders owning shares till Poush 4, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed dividend. Prime Commercial Bank had earned Rs 34.17 crore in the first quarter of the fiscal year 2074/75. PCBL had acquired Biratlaxmi Bikas Bank and Country Development Bank in share swap ratio of 100:75:40 respectively. The bank has published consolidated financial statements, its paid up capital stood at Rs 6.32 arba in Q1 of the FY 2074/75. After issuance of 27% bonus share its capital will reach 8.02 arba.  After this bonus PCBL will meet NRB minimum paid up capital requirement of Rs 8 arba. Announcement: Gurkhas Finance Limited (GUFL) is also convening 23^rd Annual General Meeting (AGM) today (Poush 25, 2074). The AGM is being held at Anupam Foodland, Battisputali, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
• To contribute 1% of net profit as Corporate Social Responsibility (CSR).

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 Poush 14 to Poush 25, 2074. Thus only those shareholders holding their shares till Poush 13, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM. Former Gurkha Development Bank and Kathmandu Finance Limited had started joint operation after merger from Chaitra 28, 2072 as “Gurkhas Finance Limited”, a class “C” national level finance company. It has an authorized capital of Rs 1 arba. Its paid up capital currently stands at Rs 57.86 crore. After the capitalization of the right shares, its paid up capital will reach Rs 86.79 crore. It had posted net loss of Rs 3.62 crore in the first quarter of the FY 2074/75. Announcement of GUFL: Likewise, Shivam Cement Limited is conducting 2^nd Annual General Meeting (AGM) today (Poush 25, 2074). The AGM is being held at Corporate Office, Anamnagar at 11:00 AM. The main agendas of the AGM are:

• To change the location of registered office of the company.
• To decrease the issued capital to Rs 3.70 arba.
• To allocate the 10% share to the general public of Rs 37 crore.
• To conduct election of Board of Director (BOD).

Other agendas of the AGM are major financial highlights for the FY 2073/74 and appointment of auditor for the FY 2074/75.