Sindhu Bikas Bank 7th AGM on Kartik 27, to endorse 16.8% bonus & issuance of 80% right share

Sindhu Bikas Bank Limited (SINDU) will be convening its 7^th Annual General Meeting (AGM) on Kartik 27, 2073. The AGM will be held at Mirable Resort and Hotel Private Ltd, Dhulikhel, Kavre at 10: 00 AM. The main agendas of the AGM are:

• To endorse 16.8 percent (Rs 2, 03, 17,500) bonus shares and 0.88 percent cash dividend from the net profit it earned from the fiscal year 2072/73.
• To issue 10:8 (80%) right share as approved by the 6^th AGM of the company

• To authorize BOD to endorse memorandum of understanding (MOU) for the merger/acquisition process and appoint auditor for Due Deligence Audit (DDA).
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of FY 2072/73 and appointment of auditor. The register of their shareholders has been closed from Kartik 4, 2073 till Kartik 27, 2073 for the purpose of its AGM. Only the shares registered one day ahead of the book closure date, i.e. Kartik 3 are eligible for the bonus shares. The right shareholders of the bank are not eligible for the bonus share of Sindhu Bikas Bank. SINDU has earned net profit of Rs 2.72 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 12.09 crore and after the issuance of 16.8 % bonus share it’s paid up capital will rise to Rs 14.12 crore.