Rising Development to merger with NDEP, 1:1 swap ratio finalized
Sun, Jan 11, 2015 12:00 AM on Others,
ShareSansar, January 11:
The 8th annual general meeting of Chitwan based Rising Development Bank held on Poush 26 has approved the special agenda to merge with NDEP Development Bank.
The swap ratio of 1:1 ratio for merger was finalized by the meeting. The meeting also selected 3 director representing promoter and public group to represent new board of director (BOD) to be formed after successful merger.
The meeting also approved the decision to distribute 10 percent bonus share to its shareholders from the profit company earned in the FY 2070/71.
The bank has earned Rs 4.40 crore in the last fiscal year and has Rs 52.25 lakh operating profit till the first quarter of the current fiscal year 2071/72. The bank has paid up capital of Rs 23.55 crore till date.
