Sanima Bank 12th AGM on Ashwin 28; to endorse 15% bonus & 30% right share, acquiring Bagmati Dev. Bank

Sanima Bank Limited (SANIMA) will be convening its 12^th Annual General Meeting (AGM) on Ashwin 28, 2073.  The AGM is going to be held at Naxal Banquet, Narayanchaur, Naxal Kathmandu at 11:00AM. The main agendas of the AGM are:

• To endorse 15% bonus share and 0.79 % cash dividend for tax purpose to its shareholders from the profit it earned in the fiscal year 2072/73.
• To authorize BOD to initiate acquisition process with Bagmati Development Bank Limited.
• To authorize BOD to complete necessary procedure required for acquisition of Bagmati Development Bank by Sanima Bank.
• To appoint auditor for Due Diligence Audit (DDA) and fix share swap ratio of Sanima Bank and Bagmati Dev. Bank at 100:41 and issue shares accordingly.
• To endorse 10:3 (30%) right share to its existing shareholders after bonus share is issued.
• After acquisition of Bagmati Development Bank, its paid up capital will increase and amend the article of association accordingly.

• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include consolidated financial highlights of 2072/73 of the bank and Sanima Capital and appointment of auditor. The register of their shareholders has been closed from Ashwin 13, 2073 till Ashwin 28, 2073 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Ashwin 12 are eligible for the bonus shares. Sanima Bank has earned net profit of Rs 1.04 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 4.59 arba. After adjustment of 50% right share issued on Ashad 12, 2073 and distribution of 15% bonus share the paid up capital will reach to Rs 5.27 arba.