Shares Listed: 12% bonus shares of Tinau Mission Development Bank and 100% right shares of Gurans Life Insurance

Mon, Nov 2, 2020 2:09 PM on Latest, Share Listed,

The 12% bonus shares of Tinau Mission Development Bank Limited (TMDBL) have been listed in NEPSE.

Tinau Mission Development Bank (TMDBL) had distributed 12% bonus shares worth Rs 13.73 crore for its shareholders from the profit of FY 2075/76. The dividend was endorsed by the thirteenth AGM of the bank. The paid-up capital after adjusting the 12% bonus has reached Rs 1.27 Arba.

It is to be noted that Citizens Bank International Limited, headquartered at Narayanhiti Path, Kathmandu, has already signed a preliminary agreement on Kartik 01 to acquire Tinau Mission Development Bank. The companies have agreed to a potential swap ratio of 100:96. The final swap ratio will be determined only after the Due Diligence Agreement. If the same swap ratio is finalized, investors with 100 shares of Tinau Mission Development Bank will get 96 shares of Citizens Bank. However, as mentioned earlier, the ratio might change after DDA.

For this reason, Tinau Mission Development Bank's trading is halted at the present.

Similarly, the 100% right shares of Gurans Life Insurance Company Limited (GLICL) have also been listed in NEPSE.

Gurans Life Insurance Company Limited had issued 93,85,200 units right shares in the ratio 1:1 to its shareholders from Ashad 14, 2077. The unclaimed right shares were then auctioned from Ashwin 13. The 93,85,200 units right shares are now listed in NEPSE.