Sahayogi Bikas Bank AGM Concludes, Approves Dividend & Acquisition By Citizens Bank

June 7, 2020 | Investopaper

The 16th Annual General Meeting of Sahayogi Bikas Bank was held at the Bank’s Central Office, Janakpur on Jestha 24, 2077.

In the general meeting held on Saturday, the Annual Financial Statement of 2075/076 was passed unanimously. The AGM also endorsed the proposal to give 18.7215 percent cash dividend to its shareholders from the profits of 2075/76.

Similarly, the general meeting has also unanimously passed the proposed swap ratio of 1:0.9175 for the acquisition with Citizen Bank International. This means that each 100 shares of Sahayogi Bikas Bank will convert into 91.75 shares of Sahayogi Bikas Bank.

Citizens Bank International has called a special general meeting on Jestha 27, 2077 to provide final approval for the acquisition of Sahayogi Bikas Bank.

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