Excel Dev. Bank 10th AGM on Chaitra 28;  to approve 26% bonus share

Excel Development Bank Limited (EDBL) will be convening its 10th AGM (Annual General Meeting) on Chaitra 28, 2072. The AGM is going to be held at New Center Point Party Palace, Birtamod 1, Jhapa at 11:00 AM. The main agendas of the AGM are listed below:

• To endorse 26 percent bonus shares and 1.36 percent cash dividend for tax purpose from the net profit it earned from the fiscal year 2071/70.
• To expand the working area as approved by the 9^th AGM of the development bank.
• To increase issued and paid up capital for issuing bonus share.
• To increase the meeting and other allowances of the BOD members.
• Authorize BOD to amend article of association and memorandum of understanding as per directed by registrar officer or the Nepal Rastra Bank.
• To authorize the BoD members to initiate and make decisions regarding possible merger and acquisitions with other BFIs

Other agendas of the AGM are the financial highlights of 2071/72 and appointment of auditors. Only those shareholders owning shares till Chaitra 15 will be entitled to the dividend of the company. The register of their shareholders will remain close from Chaitra 16, 2072 till Chaitra 28, 2072 for the purpose of its upcoming (AGM) Excel Development Bank has paid up capital of Rs 20.25 crore. After distribution of 26 percent bonus share it’s paid up capital will reach to Rs 25.51 crore.