Machhapuchchhre to issue bonus & right share; Merger also on the table
Thu, Oct 1, 2015 6:00 AM on Latest, Exclusive, Featured, Stock Market,
Machhapuchchhre Bank limited (MBL) proposes to exercise below mentioned options to raise the paid up capital of the bank to NPR 8 billion within stipulated time frame.
1.Issuance of Bonus Share
MBL expects to issue bonus share worth NPR 1.92 Billion within the stipulated time frame out of the profits of the bank for all the 3 financial years (2071/72,2072/73,2073/74) in the following manner.
The total capital of the bank reaches to NPR 5.25 Billion after bonus share.
2. Merger/ Acquisition
In order to meet gap of NPR 2.75 billion after bonus share MBL shall initiate merger with ( or acquisition) of a bank /FIs . MBL shall take necessary steps to complete merger /acquisition process within 2072/73 as far as possible.
3. Issuance of Right Share
Shortfall, if any, that may remain after exercising above stated options , shall be met through issuance of right shares to meet the minimum paid up capital requirement of NRB of NPR 8 billion within the set time frame.
Machhapuchchhre Bank Limited (MBL) and Janata Bank Limited (JBNL) have signed Memorandum of Understanding (MoU) for the merger process on Ashwin 11,2072.
The total capital of the bank reaches to NPR 5.25 Billion after bonus share.
2. Merger/ Acquisition
In order to meet gap of NPR 2.75 billion after bonus share MBL shall initiate merger with ( or acquisition) of a bank /FIs . MBL shall take necessary steps to complete merger /acquisition process within 2072/73 as far as possible.
3. Issuance of Right Share
Shortfall, if any, that may remain after exercising above stated options , shall be met through issuance of right shares to meet the minimum paid up capital requirement of NRB of NPR 8 billion within the set time frame.
Machhapuchchhre Bank Limited (MBL) and Janata Bank Limited (JBNL) have signed Memorandum of Understanding (MoU) for the merger process on Ashwin 11,2072.
