Shangrila Development Bank to convene its 13th AGM on Ashadh 17; Shareholders to receive 2.5% bonus shares and 9.30% cash dividend

Shangrila Development Bank (SADBL) has published a notice regarding its 13th AGM to be held on Ashadh 17, 2075. The meeting will be convened in Amritbhog, Kalikasthan, Kathmandu from 11:00 AM.

The main agendas of the meeting includes:

1. Distribution of 2.5% bonus shares worth Rs 6,11,30,400 and 9.30% cash dividend for its shareholders
2. Amendment of bank’s authorized, issued and paid-up capital.
3. Necessary amendments in the memorandum of association of the bank and providing the BoD with the authority regarding the same.

The other agendas of the meeting includes issuance of audited financial report for the fiscal year 2073/74, appointment of statutory auditor for the fiscal year 2074/75 and endorsement of the proposed 9.30% cash dividend (on paid up capital of Rs 2,44,30,400) for its shareholders.

For the purpose of receiving the 2.5% bonus shares and 9.30% cash dividend, the shareholders register book will remain closed from Ashadh 04 till Ashadh 17, 2075 i.e. the shareholders holding the shares of the development bank till Ashadh 03, 2075 will only be eligible to receive the bonus shares and cash dividend.