Western, Raptibheri & Fewa Dev. Bank  AGM today; Western to endorse 20% bonus & 100% right share, Raptibheri to approve 15% bonus share; Fewa to endorse 21.90% bonus & 30% right share

Western Development Bank Limited (WDBL) is holding its 10th Annual General Meeting (AGM) today (Chaitra 30, 2072). The AGM is going to 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 and1.50 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 isentitle to the bonus share of the company. The register of their shareholders has been closed 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. Simlarly, Raptibheri Bikas Bank Limited (RBBBL) is convening its 6^th Annual General Meeting (AGM) today (Chaitra 30, 2072). The AGM is going to be held at Nepalgunj, at 11: 00 AM. . Main agendas of the AGM are:

• To endorse 15 percent bonus shares and 0.5 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/72.
• After issuance of bonus share its paid up and issued capital will increase and to amend the article of association accordingly.
• Authorized BOD to change it promoter-public share structure to 51:49 from existing share structure.
• 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 main agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect BOD member from public shareholders group. Only those shareholders owning shares till Chaitra 14 is entitled to the dividend of the company. The register of their shareholders has been closed from Chaitra 15, 2072 till today for the purpose of its upcoming AGM. Raptibheri Bikas Bank had earned net profit of Rs. 65.39 lakh  in second quarter of the fiscal year 2072/73. Likewise, Fewa Bikas Bank Limited (FBBL) is convening its 8^th Annual General Meeting (AGM) today (Chaitra 30, 2072). The AGM is going to be held at Hotel Pokhara Grand, Pardi, Pokhara at 8:15 AM. Main agendas of the AGM are:

• To endorse 21.90 percent bonus shares from the net profit it earned from the fiscal year 2071/72.
• To convert promoter – public shareholder structure to 51% promoter shares and 49% ordinary shares. After the conversion, the promoter share to ordinary share ratio of the bank will stand at 51:49 percent.
• To endorse 10:3 (30%) right shares after bonus share is issued.
• To increase paid up, authorized and issued capital.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2071/72, appointment of auditor and to elect 5 BOD member from promoter shareholders group and 3BOD member from public shareholders group. Only those shareholders owning shares till Chaitra 15 is entitled to the dividend of the company. The register of their shareholders has been closed from Chaitra 16, 2072 till today for the purpose of its upcoming AGM. Fewa Bikas Bank has earned net profit of Rs 11.02 crore in the second quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 81.62 crore and after the issuance of 21.9% bonus share the paid up capital will rise to Rs 99.49 crore.