CYC Laghubitta and Adhikhola Laghubitta Calls SGM on Ashwin 07 to Endorse Merger-Related Agendas
Thu, Sep 8, 2022 11:03 AM on Latest, AGM/Special AGM, Merger/Acquistion,
CYC Laghubitta Bittiya Sanstha Limited (CYCL) and Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL) have called its Special General Meeting (SGM) on Ashwin 07, 2079 respectively. The meeting of CYCL's will be held in the company's central office located in Pokhara-08, Sabhagriha Chowk, Kaski whereas AKBSL's meeting will be held in Hotel Gaubesi, Waling, Syangja. Both the meeting will begin from 11 AM that day.
The Memorandum of Understanding (MoU) agreement had been signed between the two companies on Ashad 22, 2079.
The companies have called their SGM to discuss and approve the Chairman's report that will be submitted on behalf of the Board of Directors regarding the merger of CYC Laghubitta and Adhikhola Laghubitta. The SGM will also approve the proposal to amend of various rules of the institutions and Memorandum of Association. Mainly, the meeting will decide the Share Swap Ratio of the companies based on the report received from the assessee for the purpose of merger.
Furthermore, the meeting will evaluate the initial Memorandum of Understanding (MoU), Due Diligence Audit (DDA), assets and liabilities related to merger and will provide the necessary authority to the Board of Directors or the person designated by the Board of Directors to perform the necessary work related merger.
The book closure date is from Bhadra 29 to Ashwin 07. Thus, the shareholders maintained before that day are eligible to attend this SGM.
