Century Commercial Bank and Prabhu Bank Calls 12th & 21st AGM on 14th Poush to Endorse Dividend and Agendas Related Acquisition

Century Commercial Bank Limited (CCBL) and Prabhu Bank Limited (PRVU) have called their 12th AGM and 21st AGM on 14th Poush, 2079 respectively. The meeting of CCBL will be held in Tribhuvan Army Officer's Club, Tudikhel whereas the meeting of PRVU will be held in its head office located at Babarmahal, Kathmandu. Both the meetings will start at 9 AM that day.

Since Century Commercial Bank is being acquired by Prabhu Bank, both the AGM will pass a resolution regarding evaluating the Due Diligence Audit and endorse a share swap ratio of 100: 100 for the acquisition, and approve the final agreement for the acquisition. The meeting will also pass an agenda regarding the amendment of the Articles of Association.

Furthermore, CCBL will endorse a 0.25% cash dividend worth Rs. 2.38 Crore and 4.75% bonus shares worth Rs. 45.38 crore, whereas PRVU will endorse a 1.50% cash dividend worth Rs. 19.06 Crore and a 6.50% bonus shares worth Rs. 82.60 crores.

Both banks signed MoU for acquisition on Shrawan 15, 2079. Accordingly, the institutions will start a joint transaction by the end of Poush.

CCBL and PRVU have declared book closures on Poush 04 and Poush 1, respectively. Thus the shareholders maintained before that day are eligible for dividend payout and can also attend the AGM.

CCBL AGM Notice

PRVU AGM Notice