Siddhartha Bank Limited has issued a 35-day public notice inviting applications from its existing promoter shareholders to purchase promoter shares proposed for sale by an existing shareholder.
According to the bank’s notice, the concerned promoter shareholder has submitted an application to transfer or sell the shares held in their name. Following the submission of the application to the bank’s Board of Directors, the board decided to proceed with the transfer or sale process after fulfilling the required procedures.
In accordance with the Nepal Rastra Bank’s Unified Directives, existing promoter shareholders will be given the first priority to purchase the shares.
Interested existing promoter shareholders must submit a written application stating the number of shares they wish to purchase, along with the required documents, to the Company Secretary’s Office at the bank’s central office in Naxal, Kathmandu, within 35 days from the date of publication of the notice. Applications must be submitted during office hours.
The bank has stated that if no applications are received from existing promoter shareholders within the specified period, or if the applications received do not cover all the shares offered for sale, it will proceed with the necessary process to sell the remaining shares to non-promoter individuals or institutions in accordance with prevailing laws.
The notice informs all concerned parties that the bank will take further action regarding the sale of promoter shares in line with the applicable legal provisions.
Published by Siddhartha Bank on 2083-6-29
