Shine Resunga & Gaumukhee Bikas AGM on Falgun 22; Both banks to endorse merger with each other
Mon, Feb 15, 2016 12:50 PM on Latest, Dividend, Bonus & Rights, Featured, AGM/Special AGM,
Shine Resunga Development Bank is going to convene its 7th Annual General Meeting (AGM) on Falgun 22, 2072. The AGM will be held at Darshij International Hotel, Butwal, Rupandehi at 12:30 PM.
The AGM has following main agendas:
- To endorse 27 percent stock and 1.42 percent cash dividend for tax purpose.
- To approve proposal from Board of Directors on merger process between Shine Resunga Development Bank Limited and Gaumukhee Development Bank Limited.
- To approve the merger of Shine Resunga Development Bank and Gaumukhee Bikas Bank by endorsing Due Diligence Audit Report (DDA) and Share Swap Ratio.
- To authorize the BoD members to initiate and make decisions regarding possible merger and acquisitions with other BFIs
- To endorse members from Gaumukhee Bikas Bank after the merger process between the development banks.
- To increase authorized, issued and paid up capital of the development bank.
- To amend the article of association and memorandum of association as directed by Nepal Rastra Bank.
- To endorse 21 percent stock and 1.11 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
- To approve the merger of Shine Resunga Development Bank and Gaumukhee Bikas Bank by endorsing Due Diligence Audit Report (DDAR) and Share Swap Ratio.
- To authorize the BoD members to initiate and make decisions regarding possible merger and acquisitions with other BFIs
- To endorse members from Shine Resunga Development Bank after the merger process between the development banks.
- To increase issued and paid up capital of the development bank.