Laxmi Bank (LBL) Calls SGM on Ashad 03 to Endorse Merger-Related Agendas
Wed, May 31, 2023 10:16 AM on AGM/Special AGM, Merger/Acquistion, Latest,
Laxmi Bank Limited (LBL) has called its Special General Meeting (SGM) on 3rd Ashad, 2080. The meeting will be held in Agrawal Bhawan located at Kamaladi, Kathmandu, starting at 11 AM that day.
Among the other agendas, the SGM will pass a resolution regarding evaluating and endorsing the Due Diligence Audit, Due Diligence Report, Memorandum of Understanding, and Scheme of Arrangement and endorse a share swap ratio of 1:1 for a merger between Laxmi Bank Limited (LBL) and Sunrise Bank Limited (SRBL). The meeting will also approve the 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.
LBL and SRBL signed a Memorandum of Understanding (MOU) for the merger on Poush 25, 2079. ‘Laxmi Sunrise Bank Limited’ has been agreed upon as the name of the new entity formed after the merger.
