Kathmandu. Garima Bikas Bank has convened its 20th Annual General Meeting.
The meeting of the Board of Directors of the bank held on Tuesday decided to hold the AGM on October 12. The meeting will start from 10:30 am at Hotel Pokhara Grand in Birauta, Pokhara.
The meeting approved a total dividend of Rs 6,02,13,48,367.22 for the current fiscal year 2082. It will approve a total dividend of Rs 6,02,13,48,367.22. This includes 10 per cent bonus shares and 10 per cent cash dividend (including tax).
The meeting will pass a special proposal to increase the existing authorized capital of the bank to Rs 6.65 billion. The meeting will also approve a proposal to amend the Memorandum of Association and Articles of Association as per the capital increase.
The meeting shall approve a special resolution authorizing the Board of Directors to make any changes or amendments to the Memorandum of Association and Regulations, if directed by the regulatory bodies. The meeting shall also pass a resolution authorizing the Board of Directors to proceed with the entire process of merger with other banks and financial institutions or to proceed with the entire process if the bank deems it appropriate to acquire other banks and financial institutions.
The meeting approved the annual report and auditor’s report for the last fiscal year and the current fiscal year 2083. It will approve the proposal for the appointment of the auditor for the year 84 and the determination of his remuneration.
The bank has decided to close the book on September 14 for the purpose of dividends and meetings. This means that only the shareholders who have remained in the bank as of September 13 will be eligible to receive the dividend and participate in the meeting.
