The AGM is supposed to endorse a proposal of distributing 10 percent stock and 12 percent cash dividend including tax to its shareholders.
Moreover, the meeting will elect 5 directors from promoter shareholders, increase its authorized capital to Rs 12 billion, appoint an independent director and delegate authority to BOD to amend the article of association and regulation.
Nepal Rastra Bank (NRB), the central bank of the country, approving its annual report of FY 2075/76 directed the bank to solve its internal dispute and elect board members within 30 days.
For the AGM, the bank is closing its book from January 27- February 12, thus, the shareholders registered in its book till January 26 will be eligible to attend the AGM and obtain the announced dividend.
