Excel Development Bank (EDBL) Calls AGM; When's the Book Closure for Bonus Shares and 10: 3 Rights Issue?

Excel Development Bank Limited (EDBL) has called its 15th AGM on Ashoj 16. The meeting will be held in Siddhartha Hotel, Jhapa, starting at 11 am that day.

Among other proposals, the AGM will endorse the 12.63% dividend. This is the dividend distributed for the fiscal year 2076/77. The 253rd meeting of the board of directors held on Chaitra 26, 2077 decided to distribute 12% bonus shares and 0.63% cash dividend (for tax purposes) from the paid-up capital. Since the paid-up capital of the company is Rs. 81,11,21,224.72, the bonus shares are worth Rs. 9,73,34,546.97 and the cash dividend amounts to Rs. 51,22,870.89.

Furthermore, the AGM will also elect 3 board members representing the public shareholders.

Ashoj 01 is the book closure date. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend the AGM. Furthermore, Ashoj 01 is also the book closure date for the company's rights issue. 

The Securities Board of Nepal has approved the rights proposal of Excel Development Bank Limited (EDBL). The development bank will now issue rights shares in the ratio 10: 3.

24,33,363.67 shares will be issued. NIBL Ace Capital has been appointed the issue manager. The regulatory board approved the proposal on Shrawan 31. The company had submitted its proposal on Jestha 27 earlier this year.

After bonus shares and rights share adjustment, the paid-up capital of the company will be Rs. 115.17 crores.