Kathmandu, 9 December: The 16th Annual General Meeting of Global IME Bank has endorsed a resolution regarding merger and acquisition with Bank of Kathmandu (BoK). The AGM of the bank held this afternoon endorsed proposal to merge with BoK.
The AGM has approved the share exchange ratio (swap ratio) of 1:1 determined on the basis of the valuation report of movable/immovable assets and liabilities and transactions received from the appraiser for the purpose of merger. It has also approved the proposal to increase the authorized capital of the bank from Rs 25 billion to Rs 50 billion endorsing the annual report and integrated financial statement presented by chairman Chandra Prasad Dhakal on behalf of the board of directors.
People’s News Monitoring Service
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