Kathmandu. Shine Resunga Development Bank has called its 17th Annual General Meeting.
The meeting of the Board of Directors of the bank held on Thursday decided to hold the AGM on December 12. The meeting will begin at 12:30 pm at Hotel Saffron CK in Butwal, Rupandehi.
The AGM will approve 13 percent dividend of the current paid-up capital proposed for the last fiscal year. This includes 3 percent bonus shares and 10 percent cash dividend.
The meeting will also open the door for merger with other banks and financial institutions. The AGM will endorse a special proposal authorizing the Board of Directors to carry out all the functions of merger with appropriate banks and financial institutions. 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 25 for the purpose of meeting and dividend. This means that only the shareholders who have been held before November 28 will be eligible to receive the dividend and attend the meeting.
