Kathmandu. Nabil Bank Limited has called its 42nd Annual General Meeting (AGM) with dividend approval and several key corporate proposals on the agenda. The AGM will be held on October 8 (Ashoj 22) at Tribhuvan Army Officers Club, Bhadrakali, Kathmandu, starting at 9:30 AM.
The AGM will approve the bank’s proposed 15.80% total dividend for the fiscal year 2082/83. The proposed dividend comprises 5% bonus shares and 10.80% cash dividend, including tax.
The meeting will also consider a proposal to distribute an 8% cash dividend, including tax, on the paid-up capital of the bank’s 8% non-redeemable non-cumulative preference shares.
Authorized Capital Proposed at NPR 34 Billion
The AGM will consider a special proposal to increase the bank’s existing authorized capital to NPR 34 billion. As the bank plans to increase its authorized, issued and paid-up capital, the meeting will also approve corresponding amendments to its Memorandum of Association and Articles of Association.
The board of directors will also be authorized to make any changes or amendments to the constitutional documents if required by regulatory authorities during the approval process.
Merger and Acquisition Proposal
The AGM will further authorize the board of directors to initiate and complete the necessary process for merger with other banks and financial institutions or acquisition of other banks and financial institutions, if such transactions are considered appropriate.
The meeting will also conduct the election of three directors representing promoter shareholders to the bank’s board of directors.
Annual Report and Auditor Appointment
The AGM will approve the bank’s annual report and auditor’s report for fiscal year 2082/83.
It will also approve the appointment of an auditor for fiscal year 2083/84 and determine the auditor’s remuneration.
In addition, the meeting will approve the consolidated financial statements, including the financial statements of the bank’s subsidiary companies, Nabil Investment Banking and Nabil Stock Dealer, for the previous fiscal year.
Shareholders Until Ashoj 13 Eligible for Dividend and AGM
For the purpose of dividend distribution and participation in the AGM, Nabil Bank has fixed Ashoj 14 as the book closure date.
Accordingly, shareholders holding the bank’s shares up to Ashoj 13 will be eligible to receive the proposed dividend and participate in the 42nd Annual General Meetin
