Nepal Credit & Commerce Bank SGM today; To endorse merger with Kumari Bank & 4 Dev. Banks
Wed, Jul 13, 2016 10:27 AM on Latest, Featured, AGM/Special AGM,
Nepal Credit & Commerce Bank Limited (NCCB) is convening its Special General Meeting (SGM) today (Ashad 29, 2073). The SGM is going to be held at Hotel Nirvana Conference Hall, Paklihawa Road, Siddharthanagar, Rupandehi at 11:00 AM.
Main agendas of the SGM are:
- Authorized BOD to initiate merger process with Apex Development Bank Limited (APEX), International Development Bank Limited (INDBL), Kumari Bank Limited (KBL), Infrastructure Development Bank Limited (IDBL) , and Supreme Development Bank Limited (SUPREME).
- To appoint auditor to do Due Diligence Audit for the purpose of merger process.
- The Due Diligence Audit Report (DDA) has set the value of NCC Bank and other development banks. The share swap ratio of NCC and Kumari Bank has been fixed at 1:1, Infrastructure Dev Bank:NCC Bank at 1:0.77, Apex Dev Bank : NCC Bank at 1:0.48, International Dev Bank : NCC Bank at 1:0.73
- Authorized BOD to take necessary step as per the direction of regualtory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and clearing Limited for the merger process of Apex NCC, KBL, IDBL, INDBL and SUPREME.
- After the merger process to amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
