Citizens Bank International Limited has called a Special General Meeting. A meeting of the Board of Directors held on Jestha 12 decided to convene the AGM on Ashar 3 at 9:00 AM at the bank’s central office in Durbar Marg, Kathmandu. The meeting will be conducted both physically and via virtual platform (Zoom).

The meeting will present a special proposal to issue 7.5% Citizens non-redeemable cumulative preference shares worth Rs. 2 billion with a face value of Rs. 100 per unit, as proposed by the Board of Directors.

The proposal also includes amendments to the Memorandum of Association to allow capital mobilization through preference share issuance. The amendments cover increases in authorized, issued, and paid-up capital, along with changes to the capital structure.

Additionally, the meeting will move forward with the election process for the Board of Directors, including representation of 1 director from promoter shareholders (Group ‘A’) and 3 directors from public shareholders (Group ‘B’). The election process, previously halted due to a Supreme Court interim order, will now resume following the final verdict.

For the purpose of the Special General Meeting, the bank has decided to close its books for one day on Jestha 26. Only shareholders recorded up to that date will be eligible to participate in the meeting.