The share trading of Adarsha Laghubitta Bittiya Sansthan Limited (ADLB) shareholders, excluding the basic shareholders, is released under Section 13 (1) of the Merger and Acquisition Guideline, 2079.
The secondary market trading of securities for Adarsha Laghubitta had been halted from 9th Ashwin as ADLB is being acquired by Deprosc Laghubitta (DDBL).
Deprosc Laghubitta, situated in Bharatpur, and Adarsha Laghubitta, based in Banepa, signed an acquisition agreement in order to create a stronger and more stable microfinance institution.
Since this is an amalgamation in the nature of purchase or acquisition, only ADLB's share trading is halted and the last trading price of the said company is Rs 318.7. The current paid-up capital of ADLB is Rs. 2.07 Crores whereas the paid-up capital of DDBL is Rs. 1.38 Arba.
Securities Board (SEBON), enforcing a directive on listed companies engaging in mergers and acquisitions passed a requirement that share transactions shall be halted for a maximum of 15 working days after the combined entity commences a joint business transaction. The board has granted the post-unification period of time due to the procedures of re-registration, reconciliation, dematerialization, and listing of the shares.
The company currently has to halt share transactions once the unification process has begun. In order to prevent any out-of-the-ordinary clearing and settlement of share trading for listed companies that were engaged in merger or acquisition activity, SEBON maintained the rule.