The Commercial Bank whose annual general meeting on April 4 had to be adjourned for want of a quorum has now concluded the AGM obtaining shareholder approval for all resolutions that were due to be presented at the adjourned AGM, the company has told the CSE.

This includes the payment of the company’s proposed final dividend of Rs.2.50 per voting and non-voting share which was due to be paid on April 14 but was postponed due to the adjournment of the AGM.

Due to a court order preventing the exercise of voting rights of some major shareholders of the company until a final determination on whether they could hold these shares in view of the restriction on ownership of banking shares to specified floors, it was not possible for the necessary quorum to be obtained for the AGM which was adjourned.