Issuing a public notice today, the Bok has stated that it is holding its Annual General Meeting on October 28, which, among other things, will distribute the offered dividend.
The BoK has also announced the book closure for the dividend from October 4 to October 28.
A meeting of the commercial bank’s Board of Directors yesterday decided to schedule the 19th AGM of at 11:00 AM on October 28 at the Nepal Academy, Kamaladi.
Earlier this year, the BOK and Himalayan Bank (HBL) had moved the court to withhold making payments to Melamchi Water Supply Development Board (MWSDB) following a row between the parties.
This had worried the shareholders as it might affect the distribution of dividends offered by the banks as they might have to provision the due amount.
The BoK, which had issued advance payment guarantee, risk losing US $6.62 million to pay as counter guarantee amount to MWSDB after their client — China Railway 15 Bureau Group Corporation — failed to complete the construction of the tunnel.
Himalayan Bank stands to lose $6.2 million for guarantee made for the contractor’s performance bond.
The case is still sub judice.
-sharesansar
