Merger to Take Place Between GBLBS Grameen Bikas Laghubitta and Samaj Laghubitta Bittiya Sanstha Limited

Grameen Bikas Laghubitta Bittiya Sanstha Limited has announced its 10th Annual General Meeting (AGM) with a merger proposal on the agenda. The decision was made during a board meeting held on Ashadh 5. The AGM will take place on Ashadh 28 at 11 AM at the company's head office in Butwal.

Under the special resolution, the AGM will consider and approve the proposed merger between Grameen Bikas Laghubitta and Samaj Laghubitta Bittiya Sanstha Limited. The merger will proceed with a 1:1 share swap ratio based on the evaluation of assets and liabilities.

Currently, Grameen Bikas Laghubitta has a paid-up capital of NPR 982.5 million, while Samaj Laghubitta’s paid-up capital stands at NPR 22.85 million. Following the merger, changes in shareholding structure will require amendments to the company's Memorandum and Articles of Association, for which the board will be given necessary authority.

Additionally, the AGM will discuss and approve the company’s annual report, auditor’s report, and financial statements for the previous fiscal year, and will appoint an auditor for the current fiscal year along with determining their remuneration.

For AGM and merger purposes, the company will close its books on Ashadh 15. Therefore, shareholders who hold shares until Ashadh 12 will be eligible to participate in the meeting.