International Leasing & Finance 19th & 20th AGM today; to endorse merger process with Civil Bank

International Leasing and Finance Company Limited (ILFC) is convening its 19^th and 20^th Annual General Meeting (AGM) today (Bhadra 10, 2073). The AGM is being held at United World Trade Center, Tripureswor, Kathmandu at 10: 00 AM. The main agenda of the AGM are:

• Authorized BOD to initiate merger process with Civil Bank Limited.
• The Due Diligence Audit Report (DDA) has set the value of International Leasing and Finance and Civil Bank. The share swap ratio of ILFC and Civil Bank has been fixed at 1:0.83. Also to endorse Rs 34.14 crore as premium share to the shareholders of Civil Bank before the merger process
• After the merger process, the new merged entity will be named as Civil Bank Limited.
• To appoint auditor to do Due Diligence Audit for the purpose of merger.
• The tenure of existing BOD member will dissolve after the formation of new BOD with the completion of merger process and amend article of association accordingly.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

Other agendas of the AGM include financial highlights of 2071/72 and appointment of auditor, to endorse help provided to earthquake victim and to elect 3 BOD members from public shareholders group. The register of their shareholders was closed from Shrawan 27, 2073 till Btoday (Bhadra 10, 2073) for the purpose of its AGM. Since, trading of International Leasing and Finance Company has been suspended in Nepal Stock Exchange Limited (NEPSE) from January 25, 2016.