Kathmandu. Sanima Bank has called for its 21st Annual General Meeting (AGM).
The meeting of the Board of Directors of the bank held on Friday has decided to hold its annual general meeting on October 18. The rally will begin at 10:00 am at Amrapali Banquet in Bhatbhateni, Kathmandu.
The meeting held the last fiscal year 2081. 82 will pass the proposed cash dividend. As per the agreement, the bank will distribute 7.3685 percent cash dividend (including tax) from the accumulated profit of the last FY.
The company will also approve a proposal to issue unissued unissued unsecured preference shares of Rs 100 each at a face value of Rs 100. The preference share has an annualized return of 8.25 percent.
The AGM will also endorse a proposal to increase authorized capital of the bank from Rs 20 billion to Rs 22 billion. Accordingly, Siva will endorse the proposal to amend the Articles and Memorandum of Association.
The meeting will approve the annual report of the previous fiscal year and the financial report of the auditor. The meeting will endorse the proposal regarding the appointment of the auditor and determination of his/her salary for the current fiscal year.
The AGM will also elect 3 directors from promoter group to the board of directors.
The bank has decided to close its book on October 12 for the purpose of dividend and annual general meeting. This means that only the shareholders who have been in possession before October 27 will be eligible to receive the dividend and participate in the meeting.
