Siddhartha Bank calls annual general meeting with key proposals

Siddhartha Bank Limited has announced its 24th annual general meeting (AGM). The board of directors made this decision during a meeting held on Ashoj 31.

Date and venue for AGM

The AGM will take place on Kartik 30 at the Army Officers Club, Bhadrakali, Kathmandu. The meeting will begin at 10 a.m.

The bank plans to distribute a total dividend of 10.53 percent to its shareholders. This includes a 5 percent bonus share and a 5.53 percent cash dividend, which also covers tax purposes.

Key Agenda items

The meeting will discuss and approve several important matters:

• Amendments to the bank’s memorandum and articles of association after issuing bonus shares.
• Authorization for the board to make regulatory changes if directed by authorities.
• Approval of Kamala Wagle’s appointment as an independent director for four years.
• Approval of financial assistance that exceeds the set limit.

Financial reports

The AGM will also pass the annual report of the board of directors, the auditor’s report, and the financial statements up to the end of Ashar 2082. The financial results of Siddhartha Capital, the bank’s subsidiary company, will also be presented.

For the purpose of the AGM and dividend distribution, the bank will close its book on Kartik 17. Shareholders who are listed in NEPSE records by Kartik 16 will be eligible to attend the meeting and receive dividends.