Kathmandu. Shangrila Development Bank Limited has announced that it will hold its 22nd Annual General Meeting (AGM) on Ashoj 22.
A meeting of the bank’s Board of Directors held on Bhadra 30 decided to convene the AGM at Alice Reception, Gairidhara, Kathmandu, starting at 10:30 AM.
The AGM will consider a proposal to distribute a total 10.5263% dividend to shareholders from the profit of fiscal year 2082/83. The proposed dividend consists of 4% bonus shares and 6.5263% cash dividend, including tax applicable to the bonus shares.
Merger and Acquisition Proposal
The AGM will also consider a proposal to authorize the Board of Directors to initiate the necessary process for merger, amalgamation or acquisition with suitable banks and financial institutions.
The meeting will approve the annual report presented by the chairperson, along with the auditor’s report, balance sheet, profit and loss statement, cash flow statement and other related financial statements for fiscal year 2082/83.
In addition, the AGM will approve the appointment of an auditor for fiscal year 2083/84 and determine the auditor’s remuneration.
Shareholders Up to Ashoj 7 Eligible
For the purpose of the AGM and dividend distribution, the bank has fixed the book closure period from Ashoj 8 to Ashoj 22.
Accordingly, shareholders whose shares were traded and remained registered with the Nepal Stock Exchange up to Ashoj 7 will be eligible to receive the proposed dividend and participate in the AGM.
