December 20, 2019 | Investopaper
Kailash Bikas Bank has informed about its upcoming 26th Annual General Meeting (AGM). The development bank has planned to organize the AGM on Poush 25, 2076. The Annual Meeting will take place at Amritbhog Party Palace, Kalikasthan, Kathmandu. The AGM will start after 10 AM.
Discussion and approval of financial reports of the fiscal year 2075/76 presented by the chairman.
Endorsement of a 16 percent bonus share and a 2.77 percent cash dividend to the shareholders.
Appointment of auditor for the fiscal year 2076/77.
Approval of the acquisition and swap ratio with Prime Commercial Bank.
Change of bank’s name to ‘Prime Commercial Bank’ after the acquisition.
Book Closure Date:
For the distribution of dividend and AGM purpose, Kailash Bikas Bank has fixed the book closure date on Poush 11, 2076. Since the trading of Kailash Bikas Bank is halted from Ashar 22, 2076, the investors holding shares until Poush 10 are eligible for the dividend and can participate in the annual meeting.
Prime Commercial Bank will acquire Kailash Bikas Bank in the swap ratio 1:0.94. That means each 100 shares of Kailash Bikas Bank will transform into 94 shares of the new Prime Commerical Bank.