Kabeli Bikas Bank SGM on Poush 10; to endorse acquisition of Mount Makalu Development Bank in the share swap ratio of 100:88

Kabeli Bikas Bank Limited (KEBL) will be convening Special General Meeting (SGM) on Poush 10, 2074. The SGM is going to be held at Chip and Best Bakery, Dhankut at 11:00 AM. The main agendas of the SGM are:

• To endorse decision for the acquisition and provide final authority for acquisition of Mount Makalu Development Bank Limited (MMDBL).
• To approve Due Diligence Audit Report for the share swap ratio of 100:88.
• To appoint auditor for acquisition and fix the necessary charges for the auditing company.
• To endorse decision of Due Diligence Audit Report, Memorandum of Understanding and Final Scheme of Arrangement.
• To provide authority to the Board of Directors (BOD) regarding the work to be done for acquisition and necessary amendment as required.
• To increase the working areas.

• To increase authorized, issued and paid up capital of the company.

The book closure date has been set on Poush 4, 2074. Thus only those shareholders holding their shares till Poush 3, 2074 are eligible to participate in the AGM. As per the acquisition agreement, the name of the joined entity will remain “Kabeli Bikas Bank Limited” with its head office in Dhankuta. Announcement: