Garima Bikas Bank Limited has announced its 20th Annual General Meeting to approve the proposed bonus shares and cash dividends for its shareholders.
Garima Bikas Bank Limited is going to hold its 20th Annual General Meeting on Ashwin 26, Monday. The meeting will start from 10:30 AM in the morning at Hotel Pokhara Grand, which is located in Birauta, Pokhara.
During the meeting, bank will discuss and pass the annual report and financial statements of fiscal year 2082/83. They will also appoint the auditor for fiscal year 2083/84 and determine their salary and remuneration.
The main topic of discussion is dividend distribution. The bank has proposed to distribute 10 percent bonus shares and 10 percent cash dividend from its current paid-up capital. Currently, the paid-up capital of bank stands at Rs. 6 arba 2 crore 13 lakh 48 thousand 267 rupees and 22 paisa. The cash dividend also includes tax money needed for both bonus shares and cash dividend.
Special Agendas for the AGM
There are some special proposals to be presented in the meeting. The bank wants to increase its authorized capital to Rs. 6 arba 65 crore. Along with this, there is proposal to increase meeting allowances, daily travel allowances, and other expenses like telephone, newspaper, and internet for directors of bank.
Additionally, the board of directors will get authority to search for other suitable banks or financial institutions for merger and acquisition. This authority allows board to sign Memorandum of Understanding, do Due Diligence Audit, appoint evaluators and auditors, and complete all necessary processes to get approval from regulatory authorities.
Book Closure and Shareholder Eligibility
For the purpose of this AGM and dividend, the bank has decided to close its shareholder registration book on Ashwin 14. Because of this, only the shareholders who trade and hold shares in NEPSE till Ashwin 13 will be eligible to participate in meeting and receive proposed dividends.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
