Excel Development Bank 12th AGM today; to endorse 30.12% bonus shares

Excel Developement Bank Limited (EDBL) is conducting its 12th Annual General Meeting (AGM) today (Mangsir 17, 2074). The AGM is being held at Hotel Holiday Home, Birtamode, Jhapa at 11:00 AM. The main agendas of the AGM are:

• To endorse 30.12% bonus shares and 1.58% cash dividend (for tax) from the net profit of FY 2073/74.
• To increase issued and paid up capital.
• To endorse decision for merger and acquisitions.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM was set from Mangsir 5, 2074 to Mangsir 17, 2074. Thus only those shareholders owning shares till Mangsir 4, 2074, i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed bonus shares. After 30.12% bonus, its paid up capital will reach to Rs 69.26 crore.It had earned Rs 3.15 crore in the first quarter of FY 2074/75.