Global IME and Janata Bank to convene its AGM today; both company to merge soon

Global IME Bank Limited (GBIME) is convening its 13th Annual General Meeting (AGM) today (Mangsir 02, 2076) at Nepal Pragya Pratisthan from 10 AM onwards.

The major agendas to be discussed in the AGM:

• Approval of 12.75% cash dividend and 12.75% bonus shares as proposed by the Board.
• Final approval to the merger with Janata Bank (JBNL) after the approval of the report presented by Due Diligence Audit and the share swap ratio determined by it.
• Approval of the Annual Report to be presented by the Board along with financial statements for the year 2075/76 to be presented by the auditor.
• Approval of consolidated financial statements of Global IME Capital and Global IME Laghubitta Bittiya Sanstha.
• Appointment of auditor for the year and determination of the remuneration for the same.
• Increment of the authorized capital of the bank to Rs 25 Arba from Rs 16 Arba.

Similarly, Janata Bank Nepal (JBNL) is convening its 10th Annual General Meeting (AGM) today  (Mangsir 02, 2076) at Army Officers' Club, Bhadrakali, Kathmandu from 10 AM onwards.

The agendas to be discussed in the AGM:

• Approval of 6% cash dividend and 6% bonus shares proposed by the Board.
• Final approval to the merger with GLobal IME Bank (GBIME) after the approval of the report presented by Due Diligence Audit and the share swap ratio determined by it. The proposed share swap ratio id 1:0.85 (100 units of JBNL shares will be transformed into 85 units of GBIME shares).
• Approval of the Annual Report to be presented by the Board along with financial statements for the year 2075/76 to be presented by the auditor.
• Appointment of auditor for the year and determination of the remuneration for the same.

The trading of GBIME and JBNL has been halted in Nepal Stock Exchange (NEPSE) from Ashad 22, 2076 after the formal talks of the merger had begun. The book closure for the purpose of AGM and dividend claim has been declared from Kartik 20, 2076 to Kartik 28, 2076.