Alpine Development Bank’s SGM today; to endorse acquisition by Century Commercial Bank in share swap of 100:93

Alpine Development Bank Limited (ALDBL) is convening its Special General Meeting (SGM) today (Shrawan 15, 2074). The SGM is being held at Hotel Samana, Hetauda, Makwanpur at 11:00 AM. The main agendas of the SGM are:

1. To endorse acquisition process of Alpine Development Bank by Century Commercial Bank.
2. To endorse appointment of  auditor for the Due Diligence Audit (DDA) report P.L. Shrestha & Co. Chartered Accounts.
3. To endorse the share swap ratio of 100:93 as prepared by the Due Diligence Audit (DDA) report.
4. To endorse final agreement prepared for the acquisition of Alpine Development Bank.
5. After acquisition of ALDBL, the issued capital and paid up capital of the bank will change—and amend the Article of Association (AOA) and Memorandum of Association (MOA) accordingly
6. To further amend the AOA and MOU as per directions received from regulatory authorities.

Alpine Development bank had signed MOU for acquisition on Chaitra 4, 2073.  Only those shareholders having shares one trading day ahead of the book closure date i.e. till Chaitra 3, 2073 are eligible for participation in the SGM. Alpine Development Bank has been issuing 3:2.08 (69.33%) right shares to its existing shareholders from Ashad 25, 2074.