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NIC Asia Bank 28th AGM: 2:1 Rights Shares Approved Alongside New Board Election

NIC Asia Bank Limited successfully conducted its 28th Annual General Meeting (AGM) in Kathmandu. Along with approving the financial statements for FY 2081/82, shareholders officially greenlit a 2:1 rights share issuance (pending regulatory approval) and unanimously elected a new Board of Directors.

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NIC Asia Bank 28th AGM: 2:1 Rights Shares Approved Alongside New Board Election

NIC Asia Bank Limited has successfully concluded its 28th Annual General Meeting (AGM) in Kathmandu, marking a significant milestone for its shareholders. During the meeting, the bank's general assembly officially reviewed and approved the annual financial statements for the fiscal year 2081/82, which included the balance sheet, profit and loss statement, and cash flow reports up to the end of Ashadh 2082. In a major move to boost its capital structure, the AGM overwhelmingly approved the proposal to issue rights shares in a 2:1 ratio, a corporate action that will move forward upon securing final regulatory approvals. Furthermore, the meeting concluded with the unanimous election of new members to the Board of Directors, representing both the institutional and general shareholder groups to lead the bank into its next phase of growth.

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