LankaBangla approves issuance of rights

FE ReportThe Shareholders of LankaBangla Finance Limited approved issuance of Right Share @ 1R:1 (i.e. One Right Share for One Ordinary Share held) at par value of Tk.10.00 each subject to approval of regulatory authority at the 6th Extraordinary General Meeting of the Company held in the city recently. Mr. Mohammad A. Moyeen, Chairman of the Company presided over the Meeting. Representatives of foreign and local shareholders attended the meeting. LankaBangla Finance is a joint venture financial institution established with multinational collaboration and has been in operation since 1998. It may be mentioned that the Audited consolidated net profit after provision & income tax for the 3rd quarter ended on September 30, 2011 (from July 01, 2011 to September 30, 2011) stood at Taka 283.84 million while the cumulative Audited consolidated net profit after provision & income tax for the nine months period ended on September 30, 2011 (from January 01, 2011 to September 30, 2011) stood at Taka 795.29 million. Consolidated Earnings Per Share (EPS) for the 3rd quarter ended on September 30, 2011 (from July 01, 2011 to September 30, 2011) stood at Taka 3.45 (per share of Taka 10.00) while the cumulative Audited consolidated Earnings Per Share (EPS) for the nine months period ended on September 30, 2011 (from January 01, 2011 to September 30, 2011) stood at Taka 9.66 (per share of Taka 10.00).