Sunrise Bank & Narayani Finance separate SGM today; to endorse acquisition with Narayani Finance

Sunrise Bank Limited (SRBL) is convening its Special General Meeting (SGM) today (Jestha 20, 2073). The AGM is going to be held at Amritbhoj Caters, Kalikasthan, Dillibazar at 11:00 AM. Main agendas of the SGM are:

• Authorized BOD to initiate acquisition process with Narayani National Finance by Sunrise Bank Limited.
• To appoint auditor to do Due Diligence Audit for the purpose of acquisition process.
• To approve the aquisition of the two BFIs by endorsing Due Diligence Audit (DDA) and Share Swap Ratio.
• To endorse scheme of arrangement and memorandum of understanding (MOU) for the acquisition process.
• After the completion of acquisition process to amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• After the acquisition with NarayaniFinance, issued capital and paid up capital will increase also the share structure will be changed and to amend the article of association accordingly.
• To authorize BOD to complete necessary procedure required for acquisition of National Finance by Sunrise Bank.

The registers of their shareholders will remain close on Jestha 14, 2073 (for 1 day) for the purpose of SGM. Sunrise Bank had earned a net profit of Rs 58.81 crore for the third quarter of the fiscal year 2072/73. Narayani National Finance Limited (NNFC) is convening its Special General Meeting (SGM) today. The AGM is going to be held at Lainchaur Banquet , Nepal Scout Compound,Lainchaur, Kathmandu at 11:00 AM. Main agendas of the SGM are :

• Authorized BOD to initiate acquisition process with Narayani National Finance by Sunrise Bank Limited.
• To appoint auditor to do Due Diligence Audit and Share Swap Ratio for the purpose of acquisition process.
• To endorse scheme of arrangement and memorandum of understanding (MOU) for the acquisition process.
• To authorize BOD to complete necessary procedure required for acquisition of National Finance by Sunrise Bank.

The registers of their shareholders has already closed on Jestha 14, 2073 (for 1 day) for the purpose of SGM. Narayani Finance had earned a net profit of Rs 15.03 crore for the third quarter of the fiscal year 2072/73.