Samudayik Laghubitta and BPW Laghubitta Receives Green Light from Company Registrar For Merger

Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) has received official approval from the Company Registrar for its merger with BPW Laghubitta Bittiya Sanstha Limited (BPW) on 8th of Falgun, 2080. The decision, sanctioned during the annual/special general meeting on Poush 27, 2080, heralds the creation of a unified entity poised for a strengthened financial foundation.

Endorsing the decision made on Falgun 08, 2080, the office of the Registrar of Companies has granted its approval for the merger and accompanying capital amendment. SLBSL's issued and paid-up capital, initially pegged at Rs. 14.52 Crore each, has undergone a substantial increase, to stand at Rs. 17.08 Crores each post-merger. Notably, Nepal Rastra Bank issued its Final Approval on the 14th of Magh, 2080.

The agreed-upon swap ratio for the merger stands at 1:0.8535, as established during the signing of the Memorandum of Understanding on Poush 3, 2079. BPW, with 3 lakh units of IPO shares listed, and SLBSL, with 14.52 lakh units listed on the Nepal Stock Exchange (NEPSE), contribute to a total paid-up capital of Rs. 3 Crores and Rs. 14.52 Crores, respectively.

The merger, endorsed during a special general meeting on Ashwin 30, 2080, outlines that all debts and liabilities from the merging companies will be seamlessly absorbed by the consolidated entity, SLBSL. Post-merger, the company is obligated to adhere to several conditions:

1. Submission of the detailed capital structure of the company following the merger.

2. Disclosure and submission of the director's fees as per the company's regulations post-merger.

3. Conversion of issued share certificates of the merging companies and informing stakeholders accordingly.

4. Publication of public notice regarding the merger in national-level daily newspapers within 30 days.

5. Assumption of all debts and liabilities of the merging company by the consolidated entity, SLBSL.