Dhaka, Bangladesh (BBN)-The Board of Directors of Bangladesh Building Systems Ltd has recommended 20 percent stock dividend for the year ended on June 30, 2015, said an office disclosure on Sunday.
The Board has also decided to increase the Authorized Capital of the Company from BDT 1.50 billion to BDT 5.0 billion subject to the approval by the shareholders in EGM.
The Board has also decided to issue rights share @ 1R:2 at an issue price of BDT 20 (including share premium of BDT 10 per share) on paid up capital after considering bonus shares subject to the approval by the shareholders in the EGM and the Regulatory Authorities.
The purpose of the Rights Issue would be business expansion through diversification of product line and for working capital and repayment of outstanding loan.
Date of EGM & AGM: 15.10.2015, Time of AGM and EGM: 10am and 10:45am respectively, Venue: Trust Milonayaton, 545 Old Airport Road Tejgaon, Dhaka-1206. Record date for EGM & AGM: 20.09.2015. Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from Bangladesh Securities and Exchange Commission (BSEC).
The Company has also reported net profit of BDT 245.97 million, EPS of BDT 2.79, NAV per share of BDT 14.78 and NOCFPS of BDT 0.02 for the year ended on June 30, 2015 as against BDT 226.68 million, BDT 2.57, BDT 14.90 and BDT 1.57 respectively for the same period of the previous year.
There will be no price limit on the trading of the shares of the Company today following its corporate declaration.