Sunrise to distribute bonus share certificates from Sunday – nearly 3 months after AGM

ShareSansar, July 25:

Nearly three months after Sunrise Bank Limited endorsed 11 percent bonus shares from the net profit the commercial bank posted in the last fiscal year 2069/70, it has decided to distribute the certificates from Sunday.

The 6th Annual General Meeting of the commercial bank held back in May 5 in Kathmandu had formally endorsed 11 percent bonus share and 0.57 percent cash dividend to cover the taxes.

Civil Capital Market Limited is the issue manager.

The bank had announced the book closure for the bonus shares on April 10. This means that only those who already held the shares of the company by April 9 are entitled for the bonus shares.

The bank has also decided to issue 10 percent right shares after the bonus shares adjustment in balance sheet.

After the issuance of the bonus shares, the bank’s existing paid-up capital of Rs 2.01 arba will rise to Rs 2.23 arba and it will further rise to Rs 2.46 arba after the right issue.  

The AGM also endorsed a plan to convert 19 percent promoters share to ordinary share.

It may be noted that Sunrise Bank had distributed 5.26 percent cash dividend for the previous fiscal year 2068/69.