Book closure for 12th AGM of Excel Development Bank on Mangsir 5

Excel Development Bank Limited (EDBL) has set the book closure date. As per the notice published in NEPSE today, the book closure date has been set form Mangsir 5 to Mangsir 17, 2074. Thus only those shareholders holding share till Mangsir 4, 2074 i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed dividend. EDBL has announced 30.12% bonus shares and 1.58% cash dividends from the net profit of FY 2073/74. The AGM will held on Mangsir 17, 2074. Last year, EDBL had distributed 25% bonus share to its shareholders from the profit it made in the fiscal year 2072/73. Excel Development Bank has earned net profit of Rs 15.26 crore in the fourth quarter of the fiscal year 2073/74 as per its unaudited report. Its paid up capital remains at Rs 38.45 crore. After distribution of 50% right shares, it will reach Rs 57.67 crore and after 30.12% bonus share distribution, its paid up capital will reach to Rs 69.26 crore. As a 1-3 district level development bank, EDBL had to increase its paid up capital to Rs 50 crore as per NRB’s directive.