Joint Transaction of CYC Laghubitta and Adhikhola Laghubitta to Start From Falgun 30

CYC Laghubitta Bittiya Sanstha Limited (CYCL) and Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL), a licensed financial institution of "D" category from Nepal Rastra Bank have completed the final merger procedure.

According to the special resolution passed by the special general meeting held separately on Ashwin 7, 2079, the merger has also been approved by Nepal Rastra Bank on Poush 7, 2079. CYC Laghubitta Bittiya Sanstha (CYCL) and Adhikhola Laghubitta decided to go on a merger with each other with a swap ratio of 100:70.

So, this announcement has been published for the benefit of all parties involved as the merger has received final approval and the merged company will be operated under the name of CYC Laghubitta Bittiya Sanstha Limited from Falgun 30, 2079.

In addition, since the integrated business will be carried out from Falgun 30, all services of both institutions will be closed for 2 days i.e Falgun 28, and Falgun 29.

The paid-up capital of CYCL at the present is Rs. 15.81 Crores. Meanwhile, the paid-up capital of AKBSL is Rs. 15.47 Crores. The total paid-up capital of the newly merged company will be Rs. 26.64 Crores.

CYCL and AKBSL also endorsed dividends of 31.58% and 31.58% respectively for the Fiscal Year 2078/79.