The meeting will endorse a proposal of acquiring Western Development Bank with a swap ratio of 1:1. Moreover, the meeting will endorse a proposal of distributing 5.5 percent stock dividend to its shareholders.
Similarly, the AGM will delegate authority to BOD to forward merger or acquisition process with other BFIs or bring in a foreign strategic partner.
For the AGM, the bank is closing its book on June 21, thus, the shareholders registered in its book till June 20 will be eligible to attend the AGM and obtain the announced dividend.
Meanwhile, Western Development Bank has also called out its AGM on the same day in Hotel City Dang.