Siddhartha Bank proposes 30% right share; book closure for AGM on Magh 20

Siddhartha Bank Limited (SBL) has proposed 30% right shares to its shareholders. As per the notice published in NEPSE today, the bank’s BOD meeting held on Poush 27, 2073 has decided to issue 30% right share, subject to the approval of its upcoming AGM. The same meeting has also decided to close the register of the shareholders on Magh 20, 2073 for its AGM going to be held on Falgun 5, 2073. Siddhartha Bank had earlier declared 48.75% bonus share (adjusted to 39% for the recently issued 25% right shares) from the profits it made in FY 2072/73. Only those shareholders having shares till Magh 19, 2073 are eligible for the proposed bonus shares. A separate book closure date for the upcoming 30% right issue will be announced later. Last year, SBL had distributed 20% bonus shares to its shareholders. Siddhartha Bank has earned net profit of Rs 36.98 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report. Its paid up capital stands at Rs 3.02 arba. After adjustment of the issued 25% rights shares, the bank’s paid up capital will reach Rs 3.77 arba. After distribution of the proposed 39% bonus share, its paid up capital will reach Rs 5.25 arba. Finally, after the issuance of the proposed 30% right shares, its paid up capital will reach Rs. 6.82 arba.