Book Closure for 50% right shares of Excel Development Bank on Bhadra 21; LTP at Rs 708

Excel Development Bank Limited (EDBL) has set book closure date for its upcoming 1:0.5 (50%) right shares. As per the notice published in newspaper today, the development bank has decided to close the register of their shareholders on Bhadra 21, 2074 for the 50% right shares. Only those shareholders holding shares one day ahead of the book closure date will be eligible for the right shares. SEBON had given approval for the issue of 50% right shares on Shrawan 23, 2074. Ace Capital Limited has been appointed as issue manager. Also the development bank has published a separate notice for calls in advance that amount of right shares to be deposited in the bank account by the Board of Directors and those shareholders holding 1% or more than 1% shares of the total paid up capital. Those who are unable to deposit the amount till Bhadra 26, 2074 are not eligible to fill up the right shares. Amount should be deposited in Excel Development Bank Limited, Birtamode; Nepal SBI Bank Limited, Birtamode Branch in the account number 18235240100024 or in Siddhartha Bank Limited, Birtamode Branch in the account number 02215059601 in the name of Excel Development Bank Limited. Its current paid up capital stand at Rs 38.45 crore. After distribution of 50% right shares, it will reach Rs 57.67 crore. It has earned net profit Rs 15.26 crore in the fourth quarter of the fiscal year 2073/74. Its last traded price (LTP) stood at Rs 708 as on August 30, 2017.