Securities Trading of Adarsha Laghubitta To Be Halted From Ashad 1 for Acquisition by Deprosc Laghubitta

The share trading of Adarsha Laghubitta Bittiya Sanstha Limited (ADLB) will be halted from 1st of Ashad for 15 working days. 

A press release issued by ADLB, stated that the 79th meeting of Board of Directors (BOD) held on Jestha 28 decided that in accordance with Article 9(2) of the Merger and Acquisition (M&A) related directive 2079, the share trading of ADBL will be closed from Ashad 01, 2080 for 15 working days.

The share trading will be halted for the said period to conduct due procedures including re-registration, share adjustment, re-listing, among others. 

The Chitwan-based Deprosc Laghubitta (DDLB) is acquiring the Kavrepalanchok-based Adarsha Laghubitta and to conduct procedures for the same the transactions of both the companies will be halted on Jestha 32, 2080.

Following the completion of the due procedures, Deprosc Laghubitta Bittiya Sanstha Limited has been agreed as the name of the new company former after the acquisition, which will commence joint operations from Ashad 01, 2080. 

Earlier, the 21^st AGM of  Deprosc Laghubitta had passed the agenda to acquire Adarsha Laghubitta in the share swap ratio of 100% and had authorized the board to look into all the ongoing and upcoming merger-related prospects of the institution.