Shangri-La Dev. Bank 11th AGM today; to approve 20.85% bonus share

Shangri-La Development bank Limited (SADBL) is convening its 11th Annual General Meeting (AGM) today (Falgun 14, 2072). The AGM is going to be held at Namaste Kitchen bakery and Banquet, Gairidhara, Kathmandu at 11:00 AM. Main agendas of the AGM are:

• To approve 20.85 percent bonus share from the net profit it earned from the fiscal year 2071/72.
• To increase paid up capital up to Rs 2.50 arba as per the NRB directives. Also to ncrease issued and paid up capital up to Rs 1.07 arba and after the issuance of 4:1 right share as approved by last AGM and 20.85 percent bonus share from the profit of last fiscal year.
• Another main agenda is conversion of promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the finance will stand at 51:49 percent.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• To endorse help provided to earthquake victims of Rs 12 Lakh.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Magh 20 is entitled to the 20.85 % bonus share of the company. The register of their shareholders has been closed from Magh 21, 2072 till Falgun 14, 2072 for the purpose of its AGM. Shangri-La Development Bank had earned net profit of Rs 3.19 crore in its first quarter of the fiscal year 2072/73.