KATHMANDU: Shangrila Development Bank Limited is going to hold its 22nd Annual General Meeting (AGM) on October 6. The decision was taken at a meeting of the board of directors of the bank held on September 15. According to the bank, the AGM will begin at 10:30 am at Alice Reception, Gairidhara, Kathmandu.
The AGM will endorse a proposal of distributing 4 percent bonus shares and 6.5263 percent cash dividend to the shareholders from the profit of the fiscal year 2082/83.
Likewise, the meeting will also present a proposal to give necessary authority to the Board of Directors to forward the process of merger and acquisition with appropriate banks and financial institutions.
The agenda of the meeting will be to approve the annual report presented by the chairman, the auditor’s report, the balance sheet for the financial year 2082/83, profit and loss account, cash flow statement and related financial statements. In addition, a proposal to appoint an auditor and fix the salary for the current fiscal year 2083-84 will also be passed.
The bank has decided to close the book from October 22 to October 22 for the purpose of general meeting and dividend distribution. According to this, only the shareholders who have been traded in NEPSE till September 23 will be eligible to receive the dividend and participate in the AGM.
