Western Marine Shipyard Limited on Thursday held its 19th Annual General Meeting (AGM) for the fiscal year 2018-2019.
The AGM was organised in Shaheen Golf & Country Club at Chattogram.
Western Marine's Chairman Saiful Islam, Managing Director Captain Sohail Hasan, other directors of the board and a number of general shareholders participated in the meeting, said a press release on Saturday.
Saiful Islam thanked the shareholders for having trust in Western Marine Shipyard & also highlighted the company's performance in the last fiscal year.
Captain Sohail Hasan mentioned the prospect of the shipbuilding industry and growing demand for ships in the global and domestic market which will add value to the company in the future.
15% stock dividend was proposed and got duly approved in the AGM. General shareholders also approved the company's plan for rights issuance of 1R:2 (1 Rights Share for every 2 existing shares) at Tk10 each.
Apart from this directors report, audited financial report, appointment & re-appointment of directors and appointment of the auditor for fiscal year 2019-2020 was also approved in the meeting.