Saptakoshi Development Bank’s 4th AGM to endorse 11% bonus & 130% right share; book closure for AGM & 100% right share is on Poush 8

Saptakoshi Development Bank Limited (SKDBL) will be holding its 4th  Annual General Meeting (AGM) on 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 has been 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 will be eligible for the 11 percent bonus shares and 100 percent right share which was approved from Securities board of Nepal (SEBON) and its 3rd AGM. The separate book closure date will be publish for 130% right share. Saptakoshi Development Bank will be issuing 1:1 (100%) rights issue of 1,000,000 numbers of equity shares at the face value NPR 100/-each to be issued to the existing shareholders at par. SKDBL has earned net profit of Rs 6.95 lakh in the first quarter of the current fiscal year 2073/74. It’s paid up capital remains at Rs 10 crore. After issuance of 100 percent & 11 percent bonus and again 130 percent right share, its paid up capital will reach to Rs 48.53 crore.