NMB Bank and Kanchan Development Bank announces SGM to be held on Ashad 21; Both SGM to approve acquisition agenda
Fri, Jun 19, 2020 11:43 AM on AGM/Special AGM, Latest,
NMB Bank Limited (NMB) and Kanchan Development Bank Limited (KADBL) have published notice for Special General Meeting (SGM) today. The SGM will be held to approve the acquisition of KADBL by NMB Bank Limited.
NMB Bank Limited SGM will be held on Ashad 21, 2077 from 11 AM onwards in the premises of Krishna Tower, New Baneshwor, Kathmandu. The meeting will assess the Due Diligence Audit (DDA) Report to be presented by Dev Associates and will provide the final approval for the acquisition and also approve a 100:85 swap ratio (NMB Bank 100 units = KADBL 85 units). The book closure for SGM is on Ashad 12, 2077
Similarly, KADBL's SGM will be held on Ashad 21, 2077 from 11 AM onwards at the premises of Hotel Opera, Mahendranagar, Kanchanpur. The meeting will be providing approval to the swap ratio determined from the DDA report i.e 100:85 (NMB Bank 100 units=KADBL 85 units) and will be providing the final green flag to the acquisition.