Saptakoshi Development Bank to endorse 11% bonus & 130% right share from its 4th AGM today

Saptakoshi Development Bank Limited (SKDBL) will be holding its 4th Annual General Meeting (AGM) today (Poush 28, 2073). The meeting will be held at Conference Hall of Udhyog Sangathan Morang, Tinpaini, Biratnagar at 11 AM. The main agendas of the AGM are:

• To endorse 11% bonus share and cash dividend worth Rs 578,947.37 to its shareholders from the net profit it earned in the FY 2072/73.
• To issue 1:1.3 (130%) right share to increase its paid up capital.
• To amend article of association accordingly.
• To authorize BOD for merger/acquisition process of the development bank with other Bank and Financial Institutions ( BFIs) as per necessity.

Other agendas include financial highlights of FY 2072/73 and appointment of auditor. The book closure date for the AGM was set for Poush 8, 2073 till Poush 28, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Poush 7, 2073 were eligible for the 11 percent bonus shares, and the ongoing 100 percent right share which was approved from Securities Board of Nepal (SEBON) and its 3rd AGM. A separate book closure date will be published for 130% right share. SKDBL has earned net profit of Rs 6.95 lakh in the first quarter of the current fiscal year 2073/74. Its paid up capital remains at Rs 10 crore. After issuance of the ongoing 100 percent right, proposed 11 percent bonus, and the proposed 130 percent right share, its paid up capital will reach Rs 48.53 crore.