Kathmandu. Mahalaxmi Bikas Bank has called its 24th Annual General Meeting (AGM).
The Board of Directors of the bank has decided to hold the AGM on January 7. The assembly will begin at 10:00 am at the Tribhuvan Army Officers’ Club, Bhadrakali, Kathmandu.
The meeting held the last fiscal year 2081. The company will approve a total dividend of 10.37 percent of the current paid-up capital proposed for the company. This includes 5% bonus share and 5.37% cash dividend.
The meeting will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the paid-up capital will increase after the distribution of bonus shares. The meeting shall also endorse another special proposal authorizing the Board of Directors to amend the Memorandum of Association and Articles of Association if any suggestion or direction is received from the regulatory body.
The AGM will elect 6 directors, 3 from the general public and 3 from the promoters, to the board of directors and approve the appointment of an independent director.
The meeting will approve the annual report and the auditor’s report of the previous fiscal year. The meeting will also endorse the proposal regarding appointment of auditor and determination of his/her remuneration for the current fiscal year.
The company has decided to close the book on December 23 for the purpose of dividend and AGM. This means that only the shareholders who have been in the bank before December 7 will be eligible to receive the dividend and participate in the meeting.
