Shangri-la Dev. Bank 12th AGM today: to endorse 16.07% bonus share & issuance of 80% right share after acquisition with Cosmos & Nepal Community Dev. Bank
Fri, Jun 2, 2017 9:53 AM on Latest, Featured, AGM/Special AGM, Stock Market,
Shangri-la Development Bank Limited (SADBL) is convening its 12th Annual General Meeting (AGM) today (Jestha 19, 2074). The AGM is being held at Amrapali Banquet, Bhatbhateni, Kathmandu at 11:00 AM.
The main agendas of the AGM are:
- To endorse 16.07 percent bonus share and 0.85 percent cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2072/73.
- To endorse the appointment of auditor, N.B.S.M and Associates, Chartered Accountants for Due Diligence Audit (DDA) report and endorsement of share swap ratio at the ratio 1:1:1 for acquisition with Cosmos Development Bank and Nepal Community Development Bank.
- To endorse final agreement prepared for the acquisition of Cosmos and Nepal Community Development Bank.
- To approve the acquisition of the two BFIs by endorsing Due Diligence Audit (DDA) and Share Swap Ratio.
- To issue 80% right shares after acquisition and joint operation with both development banks.
- After acquisition, to name the bank as “Shangri-la Development Bank Limited”.
- After the completion of acquisition process, its capital will increase and to amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
