Kathmandu. Shangri-La Development Bank has called its 22nd Annual General Meeting.
The meeting of the Board of Directors of the bank held on Tuesday decided to hold the AGM on October 8. The meeting will begin at 10:00 am at Alice Reception in Gairidhara, Kathmandu.
The meeting approved a total dividend of 10.5263 per cent of the current paid-up capital of Rs 3.73 billion for FY2082. This includes 4 per cent bonus shares and 6.5263 per cent cash dividend (including tax).
After the distribution of bonus shares, the meeting will pass a special proposal to increase the paid-up capital to Rs 3.88 billion. The meeting will also approve a proposal to amend the memorandum of association and regulations accordingly as the paid-up capital will increase after the distribution of bonus shares.
The meeting shall approve a special resolution authorizing the Board of Directors to amend the Memorandum of Association and the Regulations, if any, to make any changes from 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 merge with 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.
For the purpose of dividends and meetings, the bank has decided to close the book from October 22 to October 22. This means that only the shareholders who have been in possession before October 22 will be eligible to receive the dividend of the bank and participate in the meeting.
