Special General Meeting of Shine Resunga Development Bank concludes; swap ratio stands at 1:0.95 for acquisition of Purnima Bikas Bank and Bhargav Bikas Bank

The Special General Meeting (SGM) of Shine Resunga Development Bank Limited (SHINE) was held on 27^th Asadh, 2076.

The meeting approved the following decisions:

1. SHINE will be acquiring Purnima Bikas Bank Limited (PURBL) and Bhargava Bikas Bank Limited (BHBL).
2. The swap ratio has been established at 1:0.95 for both the development banks acquired. One unit share of PURBL and BHBL each will be converted to 0.95 unit of SHINE.
3. After the completion of acquisition process, the promoter public shareholding ratio will stand at 59.38:40.62.
4. The issued and paid up capital will increase to Rs.3.27 Arba while the authorized capital will increase to Rs.5 Arba. Necessary changes in the books of the company will be made.
5. After the completion of acquisition process, the company will be distributing right shares in the ratio of 4:1 for the shareholders of the company.