Paschimanchal 12th AGM today; merger with Mega not possible within current FY
Mon, Jun 22, 2015 12:00 AM on Others,
ShareSansar June 22:
Paschimanchal Development Bank Limited is holding its12th AGM on 7th Ashad (today).The AGM will be held at Siddhartha Cottege Butwal, Rupandehi at 1 pm.
The main agenda of the meeting are financial highlight of 2070/71, appointment of auditor, election of BOD and merger.
Mega Bank limited (MEGA) has already signed memorandum of understanding (MOU) with Pachimanchal Development Bank Limited for merger.
Tulsi Ram Pokharel, Company Secretary & Head - Research & Development of Mega Bank said, “the merger process will still take nearly 4 months time.”
The swap ratios is likely to be at 104.25:67 which means mega bank shareholders will get extra 4.25 percent premium and the DDA process is going on.
NEPSE has already halted both companies trading. Mega Bank last traded price stood Rs 395 and Pachimanchal Bikas Bank last traded price was at Rs 283 as on 28th January, 2015.
