Nepal Community 6th AGM today; to approve 9% stock dividend &1:1 right share – ShareSansar

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Nepal Community and Development Bank Limited (NCDB) is holding its 6th Annual General Meeting (AGM) today (Ashwin 29, 2072). The AGM is going to be held at MoneyGram Party Place and Restaurant, MoneyGram, Rupandehi at 11:00 AM.

The main agenda of the AGM is set to endorse 9 percent bonus share and 0.50 percent cash dividend for tax purpose to the existing shareholders. After the issuance of bonus share paid up capital and issued capital will rise from the existing capital and to amend article of association accordingly.

The company’s 5th AGM had proposed to issue 1:1 right shares, which was not issued in the last fiscal year. So now the same 1:1 right share endorsement agenda is included in this AGM. Other agendas include endorsing agenda to continue discussion over the issue of merger process of the development bank.

The other agenda of the AGM includes financial highlights of 2070/71 and appointment of auditor

NCDB had earned net profit of Rs.1.35 crore in fourth quarter of the last fiscal year 2071/72. The paid up capital of the development bank stands at Rs 10 crore and after issuance of bonus share the paid up capital of the development bank will rise to Rs 10 crore 90 lakh.

 

Published on: ShareSansar (Oct 16,2015)