The New Nation - Internet Edition

BUSINESS REPORT

The 9th annual general meeting (AGM) and the 6th extraordinary general meeting (EGM) of BRAC Bank Limited were held in the city on Thursday where the Bank declared 10 per cent stock dividend for its shareholders for the year that ended on December 31, 2007.

The shareholders approved the issuance of 1:5 right share (one right share for every five ordinary shares of Tk 500 each including premium of Tk 400) and increase of authorised capital to Tk 4.80 billion (480 crore) from the existing Tk 2.00 billion, says a press release.

Chaired by BRAC Bank Chairman Fazle Hasan Abed, the meeting was attended, among others, by directors Syed Humayun Kabir, Muhammad A (Rumee) Ali, Md Aminul Alam, Quazi Md Shariful Ala, Nihad Kabir, Acting Managing Director-cum-CEO Kaiser Tamiz Amin and Company Secretary Rais Uddin Ahmad.