The company has not proposed any dividend to its shareholders in its AGM. As per Ananda Babu Khadka, Company Secretary of the company, the company required to allocate funds in various provisions as per NFRS format implemented by Insurance Board, thus, the company failed to announce any dividend to the shareholders.
The AGM is scheduled to endorse financial reports, appoint an auditor and appoint directors in vacant positions.
For the AGM, the bank is closing its book on August 5, thus, the shareholders registered in its book till August 4 will be eligible to attend the AGM.
In a bid to meet the minimum paid-up capital requirement of Rs 1 billion, the company endorses a 60 percent right issue through its SGM held on June 25. After the right issue, the paid-up capital of the company will reach Rs 1.02 billion.
