The SGM will endorse a memorandum of understanding regarding the merger with Sajilo Laghubitta. Both companies will approve agreements, decisions, expenses and decisions of BOD regarding the merger.
Similarly, the meeting will also amend its article of association and memorandum of association as per the changes occurs through the merger.
The company will also approve a proposal of issuing further public offering (FPO) as a merger with Sajilo Laghubitta will not raise its paid-up capital required by NRB.
Presently, Summit has a paid-up capital of Rs 254.3 million while Sajilo has a paid-up capital of Rs 140 million.
