PCBL Announces Book Closure for 17th AGM

Prime Commercial Bank Ltd., a leading financial institution in Nepal, has officially announced the closure of its share register in preparation for its 17th Annual General Meeting (AGM). This significant event is set to take place soon, and the bank has issued a formal notice to inform its shareholders and the Nepal Stock Exchange Limited about the book closure period.

Prime Bank Book Closure Notice for 17th AGM

Key Details of the Notice:

Book Closure Period: Prime Commercial Bank Ltd.'s share register will be closed from the 9th of Magsir, 2081 (24 November 2024). This means that no share transfers will be recorded during this period. The closure is necessary to finalize the list of shareholders eligible to participate in the 17th AGM and to receive any declared dividends.

Record Date and Share Transfer Deadline: The announcement states that shares traded on the Nepal Stock Exchange Limited until 2081/08/08 (23 November 2024) and transferred to the bank's registrar, Himalayan Capital Ltd., Kathmandu, within seven days, will qualify for participation in the meeting and entitlement to cash dividends.

Participation in the AGM: Shareholders whose names are recorded in the share register as of the book closure date will be eligible to attend the AGM. They will have the right to participate in the meeting, vote on various resolutions, and receive declared cash dividends. The bank encourages all eligible shareholders to take part in this important event.

Publication of Detailed Notice: To ensure transparency and reach a wider audience, Prime Commercial Bank Ltd. has also published a detailed notice regarding the book closure in a national daily newspaper on the same date as the formal notice. This step ensures that all shareholders are well-informed and can make necessary arrangements to participate in the AGM.

Importance of the AGM:

The Annual General Meeting is a crucial event for any company, especially for financial institutions like Prime Commercial Bank Ltd. It provides a platform for the bank's management to present the annual financial performance, discuss future plans, and seek approval from shareholders on various matters. The AGM also allows shareholders to voice their opinions, ask questions, and vote on important resolutions.

AGM Details:

• Date and Time: 19 Mangsir 2081 (04 December 2024).
• Venue: Armi Oficer's Club, Bhadrakali, Kathmandu.
• Book Closure Date: 09 Mangsir, 2081 (24 November 2024).
• Fiscal Year: 2080/81

Conclusion:

Prime Commercial Bank Ltd.'s 17th AGM marks a significant milestone in the company's journey. The closure of the share register is an essential step to ensure that all eligible shareholders can participate in the meeting and exercise their rights. The bank's commitment to transparency and shareholder engagement is evident in its meticulous preparation and communication efforts.