Western Development Bank AGM and book close
June 2, 2019 | Investopaper
Western Development Bank, which is in the process of acquisition by Deva Bikas Bank, is going to organize its 13th Annual General Meeting (AGM) on Ashad 12, 2076. The meeting will take place at Hotel City Plaza, Ghorahi, Dang after 11 AM.
The AGM will provide the approval for the acquisition of the bank by Deva Bikas Bank. Also, the meeting will endorse 14.74 percent cash dividend to the shareholders from the profit of fiscal year 2074/75.
The development bank has Rs. 50.41 crores in the capital. 14.74 percent or Rs.7.43 crores worth of dividend will be distributed to the existing shareholders after the approval.
The AGM will also approve the promoter public shareholding ratio to 51:49. At current, the promoter public ratio stands at 55.17:44.83.
Shareholders existing until 2075/03/26 are eligible for the dividend and participation in the AGM. Due to the acquisition process with Deva Bikas Bank, the share trading of Western Development Bank is halted from Ashad 27, 2075.
