Kathmandu. Siddhartha Bank has convened its 24th Annual General Meeting (AGM).
The meeting of the Board of Directors of the bank has decided to hold the AGM on November 14. The rally will begin at 10:00 am at the Army Officers Club in Bhadrakali, Kathmandu.
The board of directors of the bank proposed the fiscal year 2081. The company will approve a dividend of Rs 1,483,36,74,915 out of the current paid-up capital of Rs 14.08 billion. Out of this, 5 percent will be given bonus shares worth Rs 70,44,99,010 and 5.53 percent cash dividend (including tax purposes).
The AGM will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the capital will increase after the distribution of bonus shares. The meeting will also endorse a proposal to authorize the officials designated by the Board of Directors to incorporate the directives and suggestions from the regulatory bodies while amending the Memorandum of Association and Regulations.
The meeting will approve the appointment of Kamala Wagle as an independent director for a term of 4 years. The meeting will approve the annual and auditor’s report of the previous fiscal year.
The same meeting will endorse the proposal relating to the appointment of the auditor and determination of his/her remuneration for the current fiscal year.
The bank has decided to close its book on November 3 for the purpose of dividend and meeting. This means that only the shareholders who have remained in the bank before November 3 will be eligible to receive the dividend and attend the meeting.
