Tourism, Matribhumi & Kalinchowk Dev Bank separate SGM today; to endorse acquisition with Matribhumi & Kalinchowk Dev Bank; Tourism to approve 100% right share

Tourism Development Bank Limited (TDBL) is holding its Special General Meeting (SGM) today (Bhadra 15, 2073).The SGM is being held at Thapagaon Banquet, Thapagaun, Naya Baneshwor, Kathmandu at 11:00 AM. The main agendas of the SGM are:

• To endorse the decisions of BOD for the acquisition process of Matribhumi Bikas Bank, Kalinchowk Development Bank and Tourism Development Bank. Nepal Rastra Bank had approved the acquisition of Matribhumi Bikas Bank and Kalinchowk Development bank by Tourism Development Bank on Ashad 9, 2073.
• The Due Diligence Audit Report (DDA) has set the value of Toursim Development Bank, Matribhumi Bikas Bank and Kalinchowk Development Bank. The share swap ratio of Matribhumi Bikas Bank and Tourism Development Bank has been fixed at 100:92. Likewise the share swap ratio of Kalinchowk Dev Bank and Tourism Dev Bank has been set at 100:77.
• Authorized BOD to take necessary step for the acquisition process of Matribhumi Bikas Bank and Kalinchowk Dev Bank by Tourism Development Bank.
• After the acquisition, Tourism Bank will have paid up capital of Rs 91.97 crore. To endorse 1:1 right share after the acquisition process.
• To approve the decision of BOD to increase its issued capital from Rs 1.28 arba to Rs 3 arba as per NRB direction.
• To increase its working arena by adding up remittance service.

  The register of the company was closed from Bhadra 1, 2073 to till today for the purpose of its SGM. Tourism Development Bank has earned net profit of Rs 19.32 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 78.69 crore and after the issuance of 100% right share the paid up capital will rise to Rs 1.57 arba. Likewise, Matribhumi Bikas Bank Limited (MTBL) is convening its SGM today. The SGM is being held at Dhulikhel Lodge Resort Conference Hall, Dhulikhel, Kavrepalanchowk at 11: 00 AM. The main agendas of the SGM are:

• To endorse the decisions of BOD for the acquisition process of Matribhumi Bikas Bank, Kalinchowk Development Bank and Tourism Development Bank. Nepal Rastra Bank had approved the acquisition of Matribhumi Bikas Bank and Kalinchowk Development bank by Tourism Development Bank on Ashad 9, 2073.
• The Due Diligence Audit Report (DDA) has set the value of Toursim Development Bank, Matribhumi Bikas Bank and Kalinchowk Development Bank. The share swap ratio of Matribhumi Bikas Bank and Tourism Development Bank has been fixed at 100:92. Likewise the share swap ratio of Kalinchowk Dev Bank and Tourism Dev Bank has been set at 100:77.
• To issue 1:1 right share as approved by the development company’s 6^th AGM and to increase paid up and issued capital accordingly.
• After the acquisition, Matribhumi Bank will be Toursim Dev Bank which will endorse 1:1 right share.
• Authorized BOD to take necessary step as per the direction of regulatory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and clearing Limited.

Matribhumi Bikas Bank has earned net profit of Rs 87.29 lakh in the fourth quarter of the fiscal year 2072/73. Kalinchowk Development Bank Limited (KCDBL) also convening its SGM today. The SGM is being held at Hotel Sangam Palace Charikot , Dolakha at 11: 00 AM. The main agendas of the SGM are:

• To endorse acquisition process with Tourism Development Bank.
• The Due Diligence Audit Report (DDA) has set the value of Toursim Development Bank and Kalinchowk Development Bank. The share swap ratio of Kalinchowk Dev Bank and Tourism Dev Bank has been set at 100:77.
• After the acquisition, Matribhumi Bank will be Toursim Dev Bank which will endorse 1:1 right share.
• Authorized BOD to take necessary step as per the direction of regulatory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and clearing Limited.

Kalinchowk Dev Bank has earned net profit of Rs 94.73 lakh in the fourth quarter of the fiscal year 2072/73.