Deva Bikas Bank calls 12th AGM; Acquisition the main agenda

June 3, 2019 | Investopaper

Deva Bikas Bank has called for its upcoming 12th Annual General Meeting (AGM). The AGM will take place on Ashad 12, 2076. The meeting will start after 11 AM at Nepal Police Club, Bhrikuti Mandap, Kathmandu.

The general meeting will discuss the financial report of F.Y. 2074/75. The shareholders meeting will endorse 5.50 percent bonus shares worth Rs. 13.94 crores.

The AGM will provide approval for the acquisition of Western Development Bank. After the DDA report, the share swap ratio is fixed at 1:1. It means that the shareholders of Western Development Bank will receive 1 share of Deva Bikas Bank for their current 1 share of Western Development Bank.

The current paid-up capital of Deva Bikas Bank stands at Rs. 2.53 Arba. After the bonus share and acquisition of Western Development Bank, the paid-up capital will rise to Rs. 3.18 Arba.


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