Dhaka, Bangladesh (BBN)– The board of directors of Bangladesh Building Systems Ltd has recommended 5.0 percent cash and 20 percent stock dividend for the year ended on June 30, 2014, said an office disclosure on Sunday.
The board has also decided to issue rights share @ 2R:5 (Two rights share against existing five shares) at an issue price of Tk, 20 including premium of Tk 10 each, on paid up capital after considering bonus shares subject to the approval by the shareholders in the AGM 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 AGM: 23.10.2014, Time: 10:00 AM, Venue: Factory Premises, Janina Bazar, Telehate, Sreepur, Gazipur. Record date: 30.09.2014.
Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from BSEC.
The Company has also reported net profit of BDT 226.68 million, EPS of BDT 3.08, NAV per share of BDT 14.90 and NOCFPS of BDT 1.58 for the year ended on June 30, 2014 as against BDT 76.52 million, BDT 1.53, BDT 14.60 and BDT 3.14 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 (21.09.2014) following its corporate declaration.
BBN/SSR/AD-21Sept14-12:41pm (BST)
