Ace Dev. Bank 10th AGM today; to approve 13% stock dividend

Ace Development Bank Limited (ACEDBL) is holding its 10^th AGM today (Poush 23, 2072). The meeting is going to be held at Lainchaur Banquets, Nepal Scout Compound, Lainchaur, Kathmandu. The main agendas of the meeting are:

• To increase the authorized capital to Rs 1.10 arba.
• To endorse 13 percent bonus share from the net profit it earned from the fiscal year 2071/72
• To Authorize BOD to initiate the acquisition process with other financial institutions.
• To amend the memorandum of association

Other Agendas of the AGM include financial highlights of 2071/72, appointment of auditor, to increase issued capital and paid up capital. Only those shareholders owning shares till Poush 7 will be entitled to the dividend of the company. The register of their shareholders will remain close from Poush 8, 2072 till Poush 23, 2072 for the purpose of its upcoming (AGM), ACEDBL had earned net profit of Rs. 3.98 crore in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs. 88.53 crore in Q1. After distributing 13 percent bonus share it’s paid up capital will rise to Rs.1 arba.