Southeast Bank Ltd. held its 5th Extra-ordinary General meeting on September 26, 2009 at Bashundhara Convention Centre, Baridhara, Dhaka. Alamgir Kabir, FCA Chairman of the Bank presided over the meeting. Ragib Ali, Vice Chairman, Azim Uddin Ahmed, Jusna Ara Kashem, Duluma Ahmed, Syed Shahid Ali, Rehana Rahman, Dr. Zaidi Sattar and A. H. M. Moazzem Hossain, Directors, Bank’s Sponsors and a large number of shareholders attended in the meeting. The Extra-Ordinary General Meeting was convened for shareholders’ approval for Bank’s Right Issue of shares at 1(R):2 i.e. one Right Share for every two shares held by a Shareholder with a premium of Tk.60.00 for every new Right Share and issuance of Bond for Tk.200.00 crore subject to approval of regulatory authorities and amendment of Article 94 of the Articles of Association of the Bank. While explaining the rationale for the proposals, Chairman Alamgir Kabir spelled out that the Bank took the program of increasing its Core Capital by issuance of Rights Share and Supplementary Capital by issuance of Bond for Tk.200.00 crore to strengthen Bank’s Capital Structure to support planned expansion of business of the Bank in the coming days. After issuance of the Rights share, Bank’s total Paid Up Capital will come to Tk.513,39,55,900.00 only. The amendment of Article was required to accommodate changed situation in the light of Companies Act, 1994. After listening to the Chairman, the Shareholders unanimously approved the above Right Issue of Shares, issuance of Bond for Tk.200.00 crore subject to approval of regulatory authorities and amendment of Article 94 of the Articles of Association of the Bank. In his address of welcome in the meeting, Mahbubul Alam, Managing Director, briefly highlighted Bank’s position and its march toward further growth. He thanked the shareholders for their sincere co-operation and support to the Bank.