Jalpa Samudayik Laghubitta And Kisan Laghubitta Calls AGM To Pass Merger Proposal
Wed, Feb 28, 2024 9:43 AM on Latest, AGM/Special AGM, Book Closure, Merger/Acquistion,
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) and Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) have called an annual general meeting to pass the proposal to merge.
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) has called its 5th Annual General Meeting (AGM) on 9th Chaitra, 2080. The meeting will be held in The SR Hotel, Tilottama, Rupandehi, starting at 9:00 AM that day.
Similarly, Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) has also called its 5th Annual General Meeting (AGM) on 9th Chaitra, 2080. The meeting will be held in Taaj Palace, Golfutar, Kathmandu, starting at 11:00 AM that day.
Among the other agendas, the AGM will pass a resolution regarding evaluating and endorsing the Due Diligence Audit, Due Diligence Report, Business Plan and Projection, and Final Agreement Paper for a merger between Jalpa Samudayik Laghubitta and Kisan Laghubitta. The meeting will also pass an agenda to make necessary amendments to the Articles of Association as the company's authorized, issued, and paid-up capital will increase after the merger.
Furthermore, there's also a proposal to provide full authority to the board of directors to amend various merger-related proceedings accordingly if any instructions are received from the regulatory bodies.
Earlier, JALPA and KLBSL signed a Memorandum of Understanding (MOU) for the merger on Shrawan 9, 2079.
The swap ratio for the merger is fixed at 1: 0.8834.
The total paid-up capital of JALPA is Rs. 18.28 Crores and that of KLBSL is Rs. 50.43 Crores.
As per the swap ratio the paid up capital after the merger would be Rs 62.82 crore.
The LTP of JALPA as of yesterday is Rs. 1,060.00 and that of KLBSL is Rs. 811.00.
The book closure date for JALPA is on Falgun 24 and the book closure date for KLBSL is on Chaitra 1. Thus, the shareholders maintained before that day can attend this AGM.
