Western Dev Bank urges shareholders of merged Namaste Bittiya Sanstha to dematerialize their shares

Western Development Bank Limited (WDBL) has published a notice urging the shareholders to dematerialize the shares of former Namaste Bittiya Sanstha Limited (NBSL). Since the merger has been completed and joint operation of the merged company started since October 15, 2017, the shares of WDBL will be deposited in the shareholders’ demat accounts in the share swap ratio of 1:1.

Shareholders holding 1 share of Namaste Bittiya Sanstha Limited are eligible to receive 1 share of Western Development Bank. Shareholders can visit any of the licensed Depository Participants and have their shares dematerialized.

Western Development Bank has earned net profit of Rs 6.19 crore up to the end of third quarter of FY 2074/75. It has proposed 17.41% bonus share to its shareholders for FY 2073/74, after which its paid-up capital will reach Rs 50.40 crore.