Special General Meeting of Mission Development Bank and Tinau Development Bank to be held on 17th Jestha; book closure date on 4th Chaitra, 2075 for both development banks

Tue, May 14, 2019 12:57 PM on AGM/Special AGM, Book Closure, Latest, Stock Market,

Mission Development Bank (MIDBL) and Tinau Development Bank (TNBL) have announced that a Special General Meeting (SGM) will be held to finalize the proceedings of merger between the two development banks.

The SGM of MIDBL will be held on 17th Jestha, 2076 (31st May, 2019) at Amrapali Cottege and Restaurant, Baluwatar from 8 Am onwards. Similarly, SGM of TNBL will be held on the same day at Club Denovo, Kalikanagar, Rupandehi from 8 AM onwards.

The main agenda of both the SGMs is to endorse the Due Deligence Audit and Swap Ratio for the process of merger between the two development banks.

After the completion of Merger process the company will be operated under the name of Tinau Development Bank Limited and the corporate address will be Butwal, Sub Metropolitan City.

The paid up capital of TNBL is Rs.56.77 Crore while that of MIDBL is Rs.57.64 Crore. The LTP of the banks as on 17th March 2019 stood at Rs.166 and Rs.162 respectively.

Book Closure date for both the banks was on 4th Chaitra, 2075. Investors holding shares of respective banks till 3rd Chaitra, 2075 are eligible to attend the SGM.