For the Purpose of Joint Transactions With Prabhu Bank, Share Trading of Century Commercial Bank is Halted

After a successful acquisition of Century Commercial Bank Limited by Prabhu Bank Limited (PRVU), the companies will commence their joint operation from Poush 26, 2079 (10th January 2023). The joint operation will be carried out under the name "Prabhu Bank Limited".

The commercial banks received the final approval for the acquisition from Nepal Rastra Bank on Poush 19. Both banks signed MoU for acquisition on Shrawan 15, 2079. Since Century Commercial Bank is being acquired by Prabhu Bank the Due Diligence Audit has endorsed a share swap ratio of 100: 100 for the acquisition.

As per the guidelines for amalgamation and acquisition of companies that have registered securities issued by the Securities Board (SEBON), the share trading of CCBL is automatically halted as it has been acquired by Prabhu Bank.

Also, since this is the amalgamation in the nature of acquisition, the trading of Prabhu Limited is not affected.