Sahara Bikas Bank postpones its SGM to Shrawan 7

Sahara Bikas Bank Limited (SHBL) has postponed its Special General Meeting to Shrawan 7, 2074. Earlier, SHBL was supposed to hold its SGM tomorrow (Ashad 31, 2074). The main agenda of the SGM is to cancel its already endorsed 1:2.5 right shares. The bank had called for cancelling the issuance of right shares as it is going under acquisition by Deva Bikas Bank. It had decided to issue 250% right share to its shareholders after its merger with Sahayogi Bikas Bank was cancelled. Investors had also filed complaint against Sahara Bikas Bank. The complaint has been registered at Securities Board of Nepal (SEBON), Jawalakhel against the company’s decision to call SGM to cancel its already endorsed 1:2.5 right shares.

Also Read; Investors file complaint against Sahara Bikas