Three companies to convene their AGM today; bonus agendas to be endorsed

Three companies viz Agriculture Development Bank (ADBL), Nagbeli Laghubitta Bikas Bank (NBBL) and National Life Insurance (NLICL) is convening their AGM today (Chaitra 15, 2075).

Agriculture Development Bank Limited (ADBL)'s 12th AGM is scheduled today at bank's Kendriya Talim Pratishthan, Bode, Bhaktapur from 11:00 AM onwards.

The AGM will be endorsing 6% bonus shares to its shareholders and 15.053% cash dividend to general shareholders and 6% cash dividend of share capital to irredeemable preference shareholders. The company has proposed to provide authority to the BOD to make any amendments in the MoA and regulations.

Other agendas of the meeting include, election of 3 Public directors representing group (Kha).

Similarly, Nagbeli Laghubitta Bikas Bank Limited (NBBL) is convening its 9th Annual General Meeting (AGM) today at Hotel Heaven, Birtamode, Jhapa at 11:30 AM.

The main agendas of the AGM are:

• To endorse 9.38% bonus shares
• To endorse 4:1 right share
• To increase authorized and issued paid-up capital
• Merger and acquisition activity to implement if in case of favorable time and environment
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).
• Other agendas of the AGM are major financial highlights of the FY 2074/75 and appointment of the auditor for the FY 2075/76.
• Distribution of a cash dividend (for the purpose of the tax on bonus share) of 0.49 percent - amount equals to Rs. 796,844. Further, for the governing committee, from the promoter and public shareholders, a total of 4 and 2 to be elected respectively.

Similarly, National Life Insurance Limited (NLICL) is also convening its 30th Annual General Meeting (AGM) today at National Life Building, Central office, Lazimpat, Kathmandu at 10: 30 AM.

Main agendas of the AGM are:

• To endorse 13.5 percent bonus share and Rs 1.88 cr worth cash dividend for tax purpose for the fiscal year 2073/74 and the fraction shares will be adjusted next year’s dividend.
• To amend article of association and memorandum of association as per directed by registrar officer or insurance Board.
• To increase the issued capital to Rs 4 arba.
• To merged existing 2 promoters group viz. Group A Promoter – Promoter Group and Group B Promoter-Foreign Investors Group into single promoter group.
• Other main agendas of the AGM include financial highlights of 2073/74, appointment of auditor for FY 2074/75, to amend the allowance of BOD members.