Sahara Bikas 4th AGM today; set to approve 18% bonus, 1:2.50 right shares

ShareSansar April 13:

Sahara Bikas Bank Limited (SBBL) is going to conduct its 4th Annual General Meeting on 30th Chaitra (today). The AGM will be endorsing 18% stock dividend to its shareholders from the net profit it earned in the last fiscal year 2070/71. AGM is also set to approve 1:2.50 right shares to increase its capital to Rs 5 crore.

Two board members representing public shareholders will also be elected during the AGM. There are only 60,000 ordinary shares of Sahara Bikas in the market and small groups of people who hold those shares are expected to have a sway over who gets elected to the board.

The AGM will be held at Shrimati Krishna Devi Janata Higher Secondary School, Malangwa, Sarlahi at 11 AM. The other agendas of the meeting are financial highlight 2070/71 and appointment of auditor

Sahara Development Bank Limited had reported a rise in net profit by 88.19 percent for the second quarter of the fiscal year 2071/72.