Shine Resunga to offer 20 % bonus shares and rights issues, AGM on Oct 31

ShareSansar, October 8:

Shine Resunga Development Bank Limited will hold its AGM on October 31 at Tamghas in Gulmi.

The bank, which was formed earlier this year after a merger between Shine Development Bank Limited and Resunga Bikas Bank Limited, is pledging 20 percent bonus shares to the shareholders from the net profit it earned in the last fiscal year.

This is stated in a notice issued by the development bank based at Tamkas in Gulmi.

After the distribution of the bonus shares, the AGM will also expected to decide to issue rights shares at the ratio of 2:1 of the paid-up capital.

The AGM will also elect five members of the Board of Directors from among the promoters and three members from the general shareholders.