Mega And Gandaki Bank Call SGM To Finalize The Acquisition

May 15, 2020 | Investopaper

Mega Bank and Gandaki Bikas Bank have called for Special General Meeting (SGM) on Jestha 21, 2077. The special general meeting of both the banks will provide final approval for the acquisition.

Mega Bank is going to convene its SGM at its head office, Kamaladi, Kathmandu. The meeting will start after 11 AM. For the purpose of SGM, the bank will close the shareholders’ registration book on Jestha 11, 2077. Investors holding/purchasing shares of Mega Bank until Jestha 9 will be eligible to participate in the SGM.

Similarly, Gandaki Bikas Bank will conduct its SGM on the same date at its head office, Chipledhunga, Pokhara. The SGM will begin after 11 AGM. Since, the trading of GDBL was halted after Ashwin 9, 2076, shareholders existing until Ashwin 8, 2076 can participate in the meeting.

Mega Bank had signed an acquisition agreement with Ganadaki Bikas Bank on Ashwin 8, 2076. The swap ratio is finalized at 1:1. This indicates that each share of Gandaki Bikas Bank will be converted into one share of Mega Bank after the acquisition.


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