Mega Bank SGM on Mangsir 4; to endorse merger with Tourism Development Bank in swap ratio of 1:0.95

Mega Bank Limited (MEGA) will be conducting its Special General Meeting (SGM) on Mangsir 4, 2074. The SGM is going to be held at Army Officer Club, Bhadrakali, Kathmandu at 11:30 AM. The main agendas of the SGM are:

• To authorize BOD to endorse merger process with Tourism Development Bank Limited.
• To approve the merger of the two BFIs by endorsing Due Diligence Audit (DDA) and also endorse the share swap ratio of Mega: Tourism at 1:0.95 as prepared by the DDA report.
• To appoint auditor for the purpose of DDA and endorse Memorandum of Understanding (MOU) and final scheme of arrangement for the merger process.

• After the completion of merger of Mega Bank and Tourism Development Bank, its issued capital and paid up capital  will change—and amend the Article of Association (AOA) and Memorandum of Association (MOA) accordingly.
• To further amend the AOA and MOU as per directions received from regulatory authorities.

Mega Bank’s trading has been suspended from Magh 7, 2074 for merger and the bank has set Magh 7 as the book closure date for the purpose of this SGM. Only those shareholders having shares one trading day ahead of the book closure date are eligible for participation in the SGM. Mega Bank has earned net profit of Rs 79.14 crore in the fourth quarter of last FY 2073/74.