Mega Bank Nepal and Nepal Investment Bank Calls 12th & 36th AGM on 7th Poush to Endorse Dividend and Share Swap Ratio for Merger
Thu, Dec 1, 2022 11:43 AM on Latest, Dividend, Bonus & Rights, AGM/Special AGM, Merger/Acquistion,
Mega Bank Nepal Limited (MEGA) and Nepal Investment Bank Limited (NIB) has called its 12th AGM and 36th AGM on 7th Poush, 2079 respectively. The meeting of MEGA will be held in Rastriya Sabha Griha, Kathmandu whereas the meeting of NIB will be held in Nepal Academy Hall, Kamaladi. Both the meetings will start from 10 AM that day.
Among other agendas, both the AGM will pass a resolution regarding evaluating Due Diligence Audit and endorse share swap ratio of 100: 90 for the merger between Nepal Investment Bank Limited and Mega Bank Nepal, and sign the final agreement for merger.
Furthermore, MEGA will endorse 3.83% cash dividend worth Rs. 61.74 crores and 4% bonus shares worth Rs. 64.48 crores, whereas NIB will endorse 7% cash dividend worth Rs. 1.28 Arba and a 4% bonus shares worth Rs. 73.23 crores. Also, NIB has an agenda to increase its authorized capital from Rs. 18 Arba to Rs. 50 Arba and amend Section 5 (a) of Articles of Association. As the bank's paid-up capital will increase after the issuance of bonus shares, to pass the resolution to amend 5 (b) and 5 (c) of Articles of Association accordingly.
MEGA has announced book closure on Mangsir 23 whereas NIB has announced book closure on Mangsir 21. Thus the shareholders maintained before that day are eligible for dividend payout and can also attend the AGM.
