Kathmandu. Machhapuchchhre Bank has concluded its 27th Annual General Meeting. The meeting was held at Hotel Pokhara Grand in Pokhara, Kaski.
The meeting held the last fiscal year 2081. The meeting also approved 8 percent dividend of the current paid-up capital proposed for the company. Out of this, 4 percent will be bonus shares worth Rs 46,48,54,290.92 and 46,48,54,290. The cash dividend (including tax) is Rs 92.
The meeting also endorsed a special proposal to issue 8.25 per cent Machhapuchchhre unredeemable unsecured preference shares worth Rs 3 billion at face value of Rs 100. The meeting also approved the proposal to increase the authorized capital of the bank from Rs 15 billion to Rs 20 billion.
The meeting passed a special proposal to amend the Memorandum of Association and Articles of Association as per the special proposal of the Bank and to give full authority of the Board of Directors to carry out the proposal as per the recommendation of the regulatory body.
The AGM approved the appointment of Directors for the remaining term of the Board of Directors to the vacant post of Directors on behalf of the General Shareholders’ Group.
The meeting also approved the annual report of the last fiscal year and the financial report of the auditor. Current fiscal year 2082. 83. The meeting approved the proposal for the appointment of an auditor and his remuneration.
