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BY A STAFF REPORTER Kathmandu, Dec 11: The Ace Finance Company Limited (AFCL) is to distribute 20 per cent dividend to its shareholders. The shareholders are entitled to get Rs. 20 for each share that they initially bought at Rs. 100. The Company officials told the fifth annual general meeting this afternoon that it had collected a deposit of Rs. 540 mollion during the fiscal year 1999/2000. The Company’s profit during the same year was Rs. 110 million while the investment by mid-July was Rs. 421 million. The Company officials said that the investments witnessed a decline by 6 per cent due to "unfavourable market situation". The Company also announced that it would issue rights shares to double its capital base from Rs. 445 million. Under this provision, the existing shareholders will be entitled to have one share for each share they presently hold. Other Story |
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