Triveni Bikas Bank SGM today, to endorse final approval for merger with Janata Bank

Triveni Bikas Bank is holding its Special General Meeting today (Falgun 1, 2073) at Hotel Royal Century, Bharatpur at 11:00 AM. The main agendas of the AGM are:

• To approve the share swap ratio of 1:1 for merger with Janata Bank as recommended by the DDA report
• To endorse the decisions made by the BODs related to merger
• To endorse the name of the merged entity to be “Janata Bank Nepal Limited” with head office at Thapathali, Kathmandu, ward no. 11.
• To endorse 60% right share after merger

Only those shareholders owning the shares till Magh 8, 2073 are eligible to be present for the SGM. Its trading is in halt following the merger with Janata Bank. Triveni Bikas Bank’s paid up capital after 50% right and 19% bonus (for FY 2072/73) stands at Rs 1.38 arba. After the merger with JBNL at a share swap of 1:1, the paid up capital of the merged entity will be Rs 4.72 arba. After issuance of further 60% right, the final paid up capital will reach Rs 7.55 arba. This way, the bank will be short of around 5.86% capital hike to reach NRB’s minimum requirement of Rs 8 arba by the end of FY 2073/74.