Ace Dev Bank’s 21st AGM today; to endorse 20.25% bonus share

Ace Development Bank Limited (ACEDBL) is holding its 21^th Annual General Meeting (AGM) today (Kartik 12, 2073). The meeting is going to be held at Lainchaur Banquet, Nepal Scout Compound, Lainchaur, Kathmandu at 9:00 AM. The main agendas of the meeting are:

• To increase the authorized capital to Rs 1.21 arba.
• To endorse 20.25 percent bonus share from the net profit it earned from the fiscal year 2071/72

• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other Agendas of the AGM include financial highlights of 2072/73, appointment of auditor, election of 3 BOD members from public shareholders group and 2 from promoter shareholder group. Only those shares registered one day ahead of the book closure date, i.e. Kartik 1, 2073 are eligible for the bonus shares. The register of their shareholders has been closed from Kartik 2, 2073 till Kartik 12, 2073 for the purpose of its AGM. Ace Development Bank has earned net profit of Rs 26.18 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 1 arba. After issuance of 20.25% bonus share the paid up capital will rise to Rs 1.20 arba.