Fewa Bikas Bank’s AGM and Gandaki's SGM to approve merger with each other today, Fewa to endorse 20.60% stock dividend

Gandaki Bikas Bank Limited (GDBL) and Fewa Bikas Bank Limited (FBBL) are holding their general meetings today at Hotel Barahi, Lakeside Pokhara at 9:30 AM. GDBL will be convening its Special General Meeting while FBBL will be holding its 9^th AGM. Fewa Bikas Bank will be endorsing 20.60% bonus share for the FY 2072/73, and merger with Gandaki Bikas Bank among other agendas. Gandaki Bikas Bank will be endorsing the following merger-related agendas in its SGM:

• To approve the merger/acquisition process of Gandaki Bikas Bank Limited with Fewa Bikas Bank Limited, prepare Due Diligence Audit (DDA) report and fix share swap ratio for the merger process.
• To approve the swap ratio fixed by the Due Diligence Audit (DDA) report prepared.
• To endorse the appointment and wage of DDA auditor appointed by the merger committee for the purpose of making the DDA report, 5 year business plan and projection of the merged entity.
• To replace the existing Board of Directors (BOD) and appoint new BOD members.
• To authorize BOD as necessary for merger/acquisition process of the newly merged bank named “Gandaki Bikas Bank Limited” with other banks and financial institutions.

The register of the shareholders was closed from Poush 20, 2073 to Poush 24, 2073 for the purpose of this SGM, although the trading of the bank had already been in halt following the merger process.