Global IME Bank merger spree; after Social Development it is now Gulmi Bikas Bank

ShareSansar, MAY 29:

After Social Development Bank Limited; Global IME Bank Limited signed an agreement today with Gulmi Bikas Bank Limited to merge within this fiscal year end.

Gulmi Bikas Bank shareholder would probably get a 50% share of Global IME Bank Limited after the incorporation.

Earlier the Global Bank Limited already merged with the IME Financial Institution and Lord Buddha Finance Limited named GLOBAL IME BANK LTD. and incorporated with a ratio of 100:120:70 percent respectively.

Social Development Bank Limited shareholders have proposed 40 percent share of the Global IME Bank after the merge process.

Both the companies Social Development Bank and the Global IME bank have already announced their AGM/ Special General meeting schedule to be held on 17th June, 2013 to give legal status to the merge process.

The Global IME Bank will again have to announce special general meeting to propose merging agenda with Gulmi Bikas Bank Ltd.

Gulmi Bikas Bank Limited paid up capital is Rs 25 million. And its last traded price is Rs 139 per share. It is only from the 1st Bhadra, 2069 Gulmi Bikas trading has commenced in the secondary market of Nepal.

The company has already given trading suspension letter to the NEPSE till the merge process gets over.