Shine Resunga, Bhargav and Purnima Bikas Call Out SGM on July 12 to Stamp Acquisition

Jun 25, 2019 01:00 PM Merolagani

Shine Resunga Development Bank has called out SGM on July 12 in Asian Village Resort, Butwal.

The bank has listed a special agenda of acquiring Bhargav and Purnima Bikas Bank for the SGM. The SGM will also determine swap ratio for both institutions after approving DDA report of both companies.

Moreover, the meeting will delegate authority to BOD to carry out all the require procedures for the acquisitions. Apart from this, the meeting will endorse a proposal of issuing 4:1 right share to its existing shareholders after the acquisitions.

The meeting will also endorse a proposal of increasing authorized, issued and paid-up capital of the bank. Given that the share ownership ratio of the bank is certain to change after the acquisition, the meeting will also amend its article of association and memorandum of association.

After the acquisition, Shine Resunga will become a national level development bank with head office  in Butwal.

For the SGM, the bank is closing its book on July 4, thus, the shareholders registered in its book till July 3 will be eligible to attend the SGM.

Similarly, Bhargav and Purnima Bikas Bank are also conducting their respective SGM on July 12.


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