Corporate Development Bank Limited has called its 18th Annual General Meeting (AGM). The bank’s board of directors, at a meeting held on Magh 17, decided to hold the AGM on Sunday, Falgun 10, starting at 8:00 AM at the bank’s head office in Birgunj.
A special proposal will be presented at the AGM to authorize the board of directors to proceed with merger or acquisition processes with other banks and financial institutions. In addition, a proposal to amend the bank’s shareholding structure will be tabled. Under the proposed amendment, the current ownership of 70% by the founder group and 30% by the general shareholders will be revised to 60% for the founder group and 40% for the general shareholders, requiring modifications to the bank’s articles of association.
The AGM agenda also includes discussion and approval of the board of directors’ annual report for the fiscal year 2081/82. Financial statements, including the auditor’s report, balance sheet, profit and loss account, and cash flow statement up to Ashad 2082, will also be reviewed and approved. Furthermore, the appointment of auditors and determination of their remuneration for the current fiscal year 2082/83 will be presented for approval.
For the purpose of the AGM, the bank has announced a one-day book closure on Magh 28.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
