Western Dev. Bank 10th AGM on Chaitra 30; to endorse 20% bonus & 1:1 right share

Western Development Bank Limited (WDBL) will be holding its 10th Annual General Meeting (AGM) on Chaitra 30, 2072. The AGM will be held at Center Point Family Restaurant Meeting Hall , Ghorahi-11 Dang at 11:30 AM. Main agendas of the AGM are:

• To approve 20 percent bonus share and 1.50 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72. After issuance of bonus share to increase its paid up capital up to Rs 15.69 crore.
• To endorse 1:1 right share after bonus share is issued.
• To increase authorized capital up to Rs 1 arba from existing Rs 20 crore and amend article of association accordingly.
• Authorized BOD to initiate merger/acquisition process with other BFI.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Chaitra 14 will entitle to the bonus share of the company. The register of their shareholders will remain close from Chaitra 15, 2072 till Chaitra 30, 2072 for the purpose of its upcoming AGM whereas, a separate book closure date will be published for the right shares. The bank had earned a net profit of Rs 1.36 crore for the second quarter of fiscal year 2072/73.