Shine Resunga & Gaumukhee Bikas AGM today; both banks to endorse merger with each other
Sat, Mar 5, 2016 3:05 AM on Latest, Dividend, Bonus & Rights, Featured, AGM/Special AGM,
Shine Resunga Development Bank is convening its 7th Annual General Meeting (AGM) today. The AGM is being 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.