Nepal Housing to hold joint AGM for two FY on Sep 22 to endorse acquisition by Citizens’ Bank

ShareSansar, September 2:

Nepal Housing & Merchant Finance Limited has finally decided to hold its joint annual general meeting for the fiscal year 2068/69 and 2069/70 in Kathmandu on September 22.

Issuing a notice today, the finance company, which has been recently acquired by Citizens’ Bank International Limited, stated the AGM will endorse the acquisition, including the swap ratio.

Back on June 17, a special general meeting of Nepal Housing had endorsed a special proposal to mandate its Board of Directors to do all the needful for its acquisition.
 
Last July Nepal Housing, which has not been able to make good profit over the months, had mandated its BoD to seek merger with other BFIs.