Shangrila Development Bank closes its register of shareholders from today for special AGM

ShareSansar, September 16:

Shangrila Development Bank has announced the book closure of the company from today for its special AGM which is scheduled to be held on Ashoj 10.

The bank has informed that it will close the register of its shareholders from today.
 
The special general meeting to be held at the central office of the Class ‘B’ bank at Baluwatar, Kathmandu will scheduled to endorse the completion of the merger, and appoint four directors from among the promoters and two public directors.

The general meeting will also authorize the new BoD to pursue further merger/ acquisition with other BFIs, according to a notice published by the development bank today.

It will also pass a proposal to soar up the paid-up capital from the existing Rs 64 crore to Rs 80 crore.

The special meet is also expected to endorse 4:1 right shares the BoD has just pledged to the shareholders.