9th December 2024, Kathmandu
Standard Chartered Bank Limited will conduct its 38th Annual General Meeting (AGM) on December 10, 2024, at the Army Officers Club in Bhadrakali, Kathmandu. The meeting is scheduled to begin at 9:30 AM.
Standard Chartered Bank AGM 2024
Proposals for Shareholder Benefits
The AGM will feature proposals for a 6.50% bonus share distribution and a 19% cash dividend (including tax) for shareholders. This reflects the bank’s solid financial performance over the past year.
Capital Expansion and Structural Changes
A special proposal will also be presented, granting the board of directors authority to increase the authorized, issued, and paid-up capital of the bank. Amendments to the bank’s Memorandum and Articles of Association will be discussed to support these capital changes and further growth.
Approval of Financial Statements and Auditor Appointment
The bank will present the financial statements for the last fiscal year, seeking approval from the shareholders.
Additionally, the meeting will propose the appointment of an auditor for the current fiscal year and determine their remuneration.
Eligibility for AGM Participation
The bank has already completed its book closure on November 27, 2024. Shareholders listed as of the book closure date will be eligible to participate in the AGM and benefit from the proposed dividend distribution.
Significance of the AGM
This AGM provides shareholders with a platform to engage in the decision-making process. The discussions will revolve around the bank’s financial health, plans, and commitment to rewarding investors.
The proposed dividend distribution highlights the bank’s aim to offer long-term growth and sustained value to its shareholders.
Conclusion
Standard Chartered Bank’s AGM is a crucial event for its stakeholders. It reflects the bank’s efforts to strengthen its operations, expand its capital, and maintain shareholder satisfaction in Nepal’s competitive banking environment.
For more: Standard Chartered Bank AGM 2024
