Kathmandu. The Agricultural Development Bank (ADB) has called its 19th Annual General Meeting (AGM).
The meeting of the Board of Directors of the bank held on Thursday decided to hold the AGM on December 29. The meeting will begin at 11:00 am at the bank’s Central Training Academy at Bode, Bhuktapur.
The AGM will approve 13 percent dividend of the current paid-up capital proposed for the last fiscal year. This includes 3.25 percent bonus shares and 9.75 percent cash dividend.
The AGM will endorse a special proposal to amend the Regulations and Memorandum of Association accordingly as the issued and paid-up capital will increase after the distribution of bonus shares. While amending the Regulations and Memorandum of Association, the meeting shall also approve a special resolution authorizing a person designated by the Board of Directors or a committee to incorporate the directives or suggestions received from the regulatory bodies.
The meeting shall approve the proposal relating to the appointment of the auditor and determination of his/her remuneration for the current fiscal year by approving the annual report of the last fiscal year.
The bank has decided to close its book on November 30 for the purpose of dividend and meeting. This means that only the shareholders who have remained in the bank before November 30 will be eligible to receive the dividend and attend the meeting.
