The meeting is supposed to endorse a proposal of issuing 10:7 right shares in a bid to raise its paid-up capital. Moreover, the bank will delegate authority to BOD to carry out any required procedure as per regulatory bodies, approve financial reports and appoint an auditor for the current FY.
Regarding this, the company will close its book from December 27 to January 7, thus, the shareholders registered in its book till December 26 will be eligible to attend the AGM.
Presently, the company has a paid-up capital of Rs 60 million that will reach Rs 102 million after the right issue.
