KATHMANDU: Civil Bank has concluded its sixth annual general meeting. The AGM has decided to distribute 2.88 per cent bonus shares and 0.1516 per cent cash dividend for tax purpose from the profit generated in fiscal year 2015-16, as per a press statement.

The AGM also approved the share swap ratio of Civil Bank and Unique Finance at 1:0.90, and1:0.89 for Civil Bank and Hama Merchant and Finance. The per unit value of shares of Unique Finance and Hama Merchant Finance have been fixed at Rs 90 and Rs 89, respectively, against Civil Bank’s Rs 100. The AGM also approved

The AGM also approved issuance of 40 per cent rights share against the previous resolution of 30 per cent and has granted the board of directors with complete authority to take all decisions relating to rights share issuance.

The meeting also ratified the appointment of Shrijana Shakya Tamang to board of directors from the promoters’ group. The bank’s total deposit and loan figures as at mid-April, 2016 stood at Rs 33.81 billion and Rs 31.2 billion, respectively.  After issuance of bonus and rights shares as approved by the AGM and after acquisitions, the bank’s paid-up capital will reach the threshold specified by Nepal Rastra Bank in the given time frame.