Sagarmatha Merchant Banking & Fin's AGM endorses 36% bonus shares; Madan Kumar Rai elected chairman

ShareSansar, October 26:

Sagarmatha Merchant Banking and Finance Ltd has convened its 9th Annual General Meeting (AGM).

According to a statement of the finance company, the AGM held recently endorsed 36 percent bonus share distribution agenda proposed by its board of directors (BoD).

Likewise, the AGM also elected Madan Kumar Rai, Saran Dev Rai and Rura Bahadur Rai as the board directors of the bank from promoter shareholders for a four-year term.

Meanwhile, the meeting of the new BoD held on the same day of the AGM chose Madan Kumar Rai as the chairman of the finance company.

Lalitpur-based finance company has its branch offices in Birtamod, Damak, Itahari, Dharan, Biratnagar and Salleri of Solukhumbu.