Swarojgar Laghubitta Announces SGM to Approve Janakpur Laghubitta Acquisition

Swarojgar Laghubitta Bittiya Sanstha Limited has announced its Special General Meeting to be held on 10th Shrawan, 2077.

The meeting of the board of directors held on Saturday, Asadh 25, 2077 decided to organize a Special General Meeting on Shrawan 10, 2077. The meeting will be held on the specified date at C. W. Restro and Cafe, Kamaladi, Kathmandu, at 11 am.

The official announcement lists a total of 10 proposals to be discussed in the meeting. They are summarized below:

Primarily, the meeting will decide on and approve the report presented by the chairman representing the board of directors about the acquisition of Janakpur Laghubitta Bittiya Sanstha Limited ( Janak ) by Swarojgar Laghubitta Bittiya Sanstha Limited.

Based on the Due Diligence Audit - DDA and mutual understanding among the board of the two companies, the meeting will also approve the share swap ratio that'll equate 100 shares of Swarojgar Laghubitta Bittiya Sanstha Limited with 70 shares of Janakpur Laghubitta Bittiya Sanstha Limited.

The meeting will also discuss the tenure of the members of the board of directors and the CEO once the acquisition of the two companies succeeds. The Special General Meeting will propose issuing the right shares in the ratio of 1:1 on the basis of the new paid-up capital maintained after the acquisition.

This meeting will also authorize the board of directors to merge with or acquire other companies in the future.

Last but not the least, shareholders will have to present some proof of identity in order to participate in the SGM.