KATHMANDU, Jan 11: The fifth annual general meeting of Mega Bank Ltd has approved a proposal to distribute 10 percent bonus shares to the bank's shareholders.
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Issuing a statement, the commercial bank said that the AGM held on Sunday also elected six board directors from promoter shareholders.
Those elected are Bhoj Bahadur Shah, Gopal Khanal, Madan Kumar Acharya, Shambhu Bikram Thapa, Indra Bahadur Malla Thakuri and Ishwar Bahadur Gurung, according to the statement. Similarly, the AGM has also approved the proposal of the bank's board of directors to go into merger with Paschimanchal Development Bank Ltd (PDBL). The AGM also approved 104.25:67 share swap ratio, according to the statement. The bank is also issuing 25 percent rights shares to its shareholders following merger with PDBL, the statement added.
