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Excel Development Bank (EDBL) Bonus and Right Share announce

Excel Development Bank (EDBL)

Excel Development Bank (EDBL) calls its AGM; What is the book closing date for the rights issue and bonus shares?

Excel Development Bank Limited (EDBL) has scheduled its 15th Annual General Meeting for Ashoj 16. The meeting will take place at the Siddhartha Hotel in Jhapa at 11 a.m. on that day.

The AGM will also approve a 12.63 percent dividend, among other proposals. Dividend distributions for 2076/77 are shown here. On Chaitra 26, 2077, the board of directors approved a 12% bonus shares distribution and a 0.63% cash dividend (for tax purposes) from the paid-up capital. 81,11,21,224.72 are the company paid-up capital, so 9,73,34,546.97 are the bonus shares, and Rs. 51,22,870.89 are the cash dividends.

Additionally, 3 public shareholders will be elected to the board at the AGM.

Book closure is on Ashroj 01 this year. As a result, shareholders who held their shares before that date are eligible to receive dividends and can attend the AGM. A rights issue for the company is also closed on Ashoj 01 at the same time. 

Equity Development Bank Limited (EDBL) has had its rights proposal approved by the Securities Board of Nepal. The ratio of rights shares to equity shares will now be 10:3.

This will result in the issuance of 24,33,363.67 shares. The issue manager is NIBL Ace Capital. The proposal was approved by the regulatory board on Shrawan 31. Earlier this year, Jestha 27 had been submitted by the company.

The company’s paid-up capital will be Rs. 115.17 crores after bonus shares and rights share adjustments.

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