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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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November 30: The 400th Board of Directors (BOD) meeting of Nepal SBI Bank held on 28th November has approved the proposal of issuing 10:4 right shares amounting to Rs 1.99 billion. Issuing a press statement, the bank informed that the BOD derived the right share ratio out of the paid-up capital to be maintained after allotment of 67,767.87 shares being sold through FPO and issuance of 28% bonus shares.
According to the statement, the bonus share is already proposed by the Board to the forthcoming annual general meeting (AGM) subject to the approval of Nepal Rastra Bank (NRB). Moreover, the bank said that the quantum and ratio of the rights issue approved by the board is within the cap of Rs. 2.6 billion fixed by the 22nd AGM held on 7 February 2016.
"The Bank has decided to come out with the rights issue as part of implementation of its Capital Plan formulated in the year 2015 so as to gradually augment the bank's paid-up capital to Rs. 8 billion within the timeline fixed by NRB," reads the statement.
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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