Laxmi Bank SGM on Kartik 7; to endorse acquisition with Professional Diyalo & issuance of 1:1 right share after acquisition

Laxmi Bank Limited (LBL) will be convening its Special General Meeting (SGM) on Kartik 7, 2073. The SGM is going to be held at Agrawal Bhawan, Kamalpokhari, Kathmandu at 2: 00 PM. The main agenda of the SGM are:

• Authorized BOD to initiate acquisition process with Professional Diyalo Bikas Bank.

• To appoint auditor to do Due Diligence Audit and fix Share Swap Ratio for the purpose of acquisition process.
• To endorse Scheme of Arrangement for the acquisition process.
• To approve the acquisition of the two BFIs by endorsing Due Diligence Audit (DDA).

• To issue 1:1 right shares to its shareholders after acquisition process as approved by 16^{th  AGM.}
• After distribution of right share to increase it’s issued and paid up capital.

• To authorize BOD to complete necessary procedure required for acquisition of Professional Diyalo Bikas Bank by Laxmi Bank.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.

The registers of their shareholders will remain close on Ashwin 28, 2073 for the purpose of SGM. Only share registered one day ahead of book closure date i.e. Ashwin 27, 2073 will be eligible to take part in SGM. Laxmi Bank had earned net profit of Rs. 72.98 crore in the fourth quarter of the FY 2072/73. It’s paid up capital remains at Rs 3.03 arba.