Kathmandu. Today is the last day to secure the dividend of Garima Bikas Bank.
The bank has decided to close its book on November 3, 2018 for the purpose of Annual General Meeting and Dividend. This means that only the shareholders who have remained in the bank as of November 1 will be eligible to receive the dividend and participate in the meeting.
The bank is scheduled to hold its 19th Annual General Meeting (AGM) on November 11. The meeting will begin at 11:00 am at Hotel Pokhara Grand, Birauta, Pokhara.
The Fiscal Year 2081. 82 Annual Report of the Board of Directors will be discussed and approved, the balance sheet of the Development Bank along with the auditor’s report and the financial year 2081 BS. 82 Schedules related to Profit and Loss Account, Cash Flow Statement, Profit and Loss Sharing Account, Changes in Equity and Annual Financial Statement have been discussed and approved.
As per the proposal of the Board of Directors, the AGM will approve the distribution of 4.53 percent cash dividend (including tax on bonus shares and cash dividend) of the current paid-up capital. 83. It will appoint an auditor to conduct audit and approve a resolution fixing his remuneration.
The AGM will approve the distribution of 6% bonus shares of the current paid-up capital of the bank and a proposal related to increasing the existing authorized capital of the bank as per the proposal of the Board of Directors and approval of Nepal Rastra Bank.
To find suitable banks and financial institutions in connection with the merger and acquisition of other licensed banks and financial institutions, to prepare and sign a memorandum of understanding regarding merger and acquisition with appropriate banks and financial institutions, to appoint an assessor auditor to evaluate all movable and immovable assets and liabilities, to fix his remuneration and to have all movable and immovable assets and liabilities of the bank evaluated by him and to merger or acquisition. The meeting shall pass a resolution authorizing the Board of Directors to carry out all the functions relating to merger and acquisition, by following all the procedures including making necessary amendments to the Memorandum of Association and Articles of Association for obtaining the consent of the bodies, merging or acquiring.
The AGM will endorse a proposal to authorize the Board of Directors to make additions, modifications, amendments, linguistic improvements as per necessity if directed by the Nepal Rastra Bank, Office of the Company Registrar, Securities Board of Nepal and other regulatory bodies to amend and make any terms and conditions in the course of approval of the works related to the amendment of the Memorandum of Association and Articles of Association of the Development Bank.
