Sunrise Bank AGM on Kartik 30; to approve 21.5% stock dividend

Sunrise Bank Limited (SRBL) will be convening its 8th Annual General Meeting (AGM) on Kartik 30, 2072. The AGM will be held at 11:00 AM at Amrapali Banquet, Baluwatar, Kathmandu. Main agendas of the AGM are:

• To endorse 21.5 percent bonus share and 1.13 percent cash dividend (for tax purpose) from the net profit it earned from the fiscal year 2071/72.
• To amend expenses of Rs 54.84 lakhs that was done during the economic support program under the CSR.
• Allowance per meeting will be increased up to Rs 12,000 and 10,000 of chairman and BOD member respectively. Also to provide Rs 15000 to BOD member on title ‘mobile, transportation and newspaper expenses’
• To increase the issued capital and paid up capital and amend the article of association accordingly.
• Authorize BOD to initiate acquisition/ merger/ takeover process with other financial institutions.

Other Agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Kartik 10 will be entitled to the dividend of the company. The register of their shareholders will remain close from Kartik 11, 2072 till Kartik 30, 2072 for the purpose of its upcoming (AGM). At present SRBL has a paid up capital of Rs 2.44 arba. After the issuance of 21.5 % bonus shares, its paid up capital will reach to Rs 2.96 arba. Sunrise Bank has earned net profit of Rs.47.43 crore in its fourth quarter of the fiscal year 2071/72.