SGM of Deva & Sajha Bikas Bank today; to endorse acquisition in swap ratio of 1:1

Deva Bikas Bank Limited (DBBL) is convening its Special General Meetings (SGM) today (Bhadra 1, 2074) to endorse acquisition of Sajha Bikas Bank (SAJHA). SAJHA has also called for its 4th Annual General Meeting (AGM) on the same day to endorse similar agendas. The SGM of DBBL is being held at Lainchaur Banquet, Nepal Scout Compound, Lainchaur, Kathmandu while SAJHA’s AGM is being held at Hotel Sathi, Dhangadi, Kailali. Both the SGM and AGM have the following common agendas:

1. To endorse the final agreement for acquisition of Sajha Bikas Bank by Deva Bikas Bank.
2. To endorse the Scheme of arrangement for acquisition and appoint auditor for the Due Deligence Audit (DDA).Commercial Bank
3. To endorse the share swap ratio of 1:1 as prepared by the Due Diligence Audit (DDA) report
4. To provide authority to the BOD for completing the acquisition process of Sajha Bikas Bank.
5. To amend Article of Association and Memorandum of Association as per directed by Company Registrar’s office or Nepal Rastra Bank.

The book closure of Deva Bikas Bank was set on Shrawan 27, 2074 till Bhadra 1, 2074 as the book closure date for the purpose of this SGM. Likewise, shareholders of Sajha Bikas Bank who have traded shares till Chaitra 25, 2073 are eligible for participation in the SGM. DBBL has earned net profit of Rs 28.94 crore in the foruth quarter of the fiscal year 2073/74. It is also acquiring Sahara Bikas Bank and Union Finance Limited.