Kathmandu. Machhapuchchhre Bank has called its 28th Annual General Meeting.
A meeting of the board of directors of the bank held on Friday decided to hold the AGM on October 12. The meeting will begin at 11:00 am at Hotel Pokhara Grand, Pardi, Pokhara.
The meeting approved a total dividend of 6 per cent of the current paid-up capital out of the proposed distributable profits for FY83. This includes bonus shares of Rs 36,25,86,347 and cash dividend (including tax) of Rs 36,25,86,347 coming up to 3 per cent.
The meeting will also approve a proposal to distribute a cash dividend (including tax) of Rs 7,45,89,041 to the preference shareholders for the last financial year, amounting to 8.25 per cent. The meeting will also pass a special resolution authorizing the Board of Directors to follow the suggestions or instructions received from the regulatory body while amending the Memorandum of Association and Regulations.
The AGM will elect 3 directors from promoter group and 1 director from general public to the board of directors.
Similarly, the meeting will approve the annual and auditor’s report for the last fiscal year and the current fiscal year 2083. It will also 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 26 for the purpose of dividends and meetings. This means that only the shareholders who have been in possession before September 28 will be eligible to receive the dividend of this bank and attend the meeting.
