Mirmire, Kisan and Nagbeli Laghubitta signed a memorandum of understanding for merger on May 13, 2019, however, the merger process end abruptly on disagreement of swap ratio, said Tulsi Ram Pathak, company secretary of Mirmire Laghubitta.
The information has been passed to NRB and NEPSE, he informed. ‘NRB approved demerge with Kisan and Nagbeli and directed to merger with other companies. Accordingly we forwarded the acquisition process with Sweda Laghubitta, added Pathak.
The stock trading of Mirmire, Kisan and Nagbeli Laghubitta is suspended from May 13, 2019 following their merger agreement. “Although the merger process has been halted, the trading will be remained suspended till merger/acquisition with other companies as per NRB,” Pathak informed.
Mirmire Laghubitta, headquartered at Kavrepalanchowk, Banepa signed a memorandum of understanding with Sweda Laghubitta for acquisition on January 12 with a swap ratio of 100:75.
The joint entity will be named Mirmire Laghubitta with headquarter at Banepa.
Meanwhile, Mirmire Laghubitta endorsed a proposal of distributing 47.36 percent dividend including 45 percent stock and 2.36 percent cash dividend through its AGM held today in Mirabal Resort and Hotel, Dhulikhel.