Subhechha Bikas Bank 11th AGM on Magh 23; to endorse 17.95% stock dividend & issuance of 1:1 right share

Subechha Bikas Bank Limited (SUBBL) will be convening its 11^thAnnual General Meeting (AGM) on Magh 23, 2072. The AGM is going to be held at Narayangarh, Chitwan at 10:00 AM. Main agendas of the AGM are:

• To approve 17.95 percent bonus share and 0.94 percent cash dividend from the net profit it earned from the fiscal year 2071/72.
• To endorse 1:1 (100%) right share to its shareholders after issuance of bonus share.
• Authorize BOD to initiate merger/acquisition with other BFIs by endorsing Due Diligence Audit (DDA) and Memorandum of Understanding (MOU).
• Authorized BOD to increase Authorized up to Rs. 50 crore from the existing Rs40 crore.
• To elect 1 BOD member from public shareholders group.
• To amend article of association and memorandum of association, if any, as per directed by Office of Company Registrar or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to endorse help provided as a part of Corporate Social Responsibility(CSR). Only those shareholders owning shares till Poush 27 will be entitled to the dividend of the company. The register of their shareholders will be closed from Poush 28, 2072 till Magh 23 for the purpose of its AGM. Subhechha Bikas Bank had earned net profit of Rs 27.25 lakh in its first quarter of the fiscal year 2072/73.