Reliable Development Bank AGM today; to endorse 10% bonus & 100% right shares

Reliable Development Bank Limited (REDBL) is holding its 10^th Annual General Meeting (AGM) today (Ashad 17, 2073). The AGM is going to be held at Naxal Banquet, Naxal, Kathmandu at 11:00 AM. The main agendas of the meeting are:

• To increase the authorized capital up to Rs 3 arba.
• To issue 10% bonus share from the net profit earned in the last fiscal year and to increase the paid up capital and issued capital.
• To maintain 49% public shareholders stake and 51% promoter shareholders stake.
• To issue 1:1 right shares after the issuance of bonus share.
• To make necessary amendments to the article of the association and memorandum of the association.

Other agendas of the meeting include financial highlights of 2071/72, to approve a consolidated report of Reliable Development Bank and Reliable Microfinance limited and appointment of auditor. It’s paid up capital remains at Rs 73.83 crore. After distributing 10 percent bonus share its paid up capital will reach to Rs. 81.21 crore. Likewise, after distribution of 100 percent right share its paid up capital will reach Rs 1.62 arba. Only those shareholders owning shares till Ashad 6, 2073 is entitled to the dividend of the company. The register of their shareholders has been closed   from Ashad 7, 2073 for the purpose of its AGM. A separate book closure date will be published for the right shares.