Kathmandu. Prime Commercial Bank has called its 18th Annual General Meeting (AGM).
The meeting of the Board of Directors of the bank held on Tuesday decided to hold the AGM on January 30. The assembly will begin at 11:00 am at the Nepal Academy in Kamaladi, Kathmandu.
Male last fiscal year 2081. The company will approve a total dividend of 8.421 percent of the current paid-up capital proposed for the company. This includes 8 percent bonus shares and 0.421 percent cash dividend for tax purposes.
The meeting will endorse a special proposal to amend the Memorandum of Association as the paid-up capital of the bank will increase after the distribution of bonus shares. The meeting shall also endorse a proposal authorizing the Board of Directors to carry out amendments to the Memorandum of Association and Articles of Association if they receive any suggestion or direction from the regulatory bodies.
The meeting will also endorse a special proposal authorizing the Board of Directors to forward all the necessary processes for merger with other appropriate banks and financial institutions. The meeting approved the annual and auditor’s report of the last fiscal year and the current fiscal year 2082. The meeting will also approve a resolution regarding the appointment of an auditor and determination of his/her remuneration for Province 83.
The bank has decided to close its book on January 21 for the purpose of dividend and AGM. This means that only the shareholders who have been held before January 21 will be eligible to receive the dividend and participate in the meeting.
