Subhechha Dev. Bank 11th AGM on Magh 23; To endorse 17.95% bonus & 1:1 right share

Subhechha Development Bank Limited (SUBBL) will be convening its 11^th Annual General Meeting (AGM) on Magh 23, 2072. The AGM will be held at Narayangarh, Chitwan at 10:00 AM. Main agendas of the AGM are:

• Authorized BOD to increase authorized capital up to Rs 50 crore from existing Rs 40 crore.
• To endorse 17.95 percent bonus share and 0.94 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To issue right shares in the ratio 1:1 (100%) after the bonus share is distributed.
• To elect 1 BOD member from public shareholders group.
• Authorize BOD to initiate merger/acquisition with other BFIs by endorsing Due Diligence Audit (DDA) and Memorandum of Understanding (MOU).
• To amend article of association and memorandum of association 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 approve the decision of funding more than Rs 50 thousand to various organization as a part of Corporate Social Responsibility (CSR). SUBBL had earned a net profit of Rs. 27.25 lakhs in the first quarter of the current fiscal year.