Pokhara Finance Forms New Board After Merger, Share Trading Suspended
Pokhara Finance Limited has formed a new board of directors following its merger with Samriddhi Finance, while NEPSE has suspended the company's share trading after the commencement of integrated operations.
Pokhara Finance Limited has announced the formation of a new board of directors following the successful merger of Pokhara Finance Limited and Samriddhi Finance Limited.
At its board meeting held on Ashadh 26, the company decided to form a seven-member board in accordance with the Companies Act, 2063. Ajay Kumar Mishra has been elected as the chairman, while Sudip Ghimire, Pratik Gurung, Dinesh Kumar Bartaula, Durga Thapa, Til Bahadur Gurung, and Yam Bahadur Subedi have been appointed as directors. Bartaula represents Padmodaya Pvt. Ltd.
The company has also appointed Binod Raj Paudel as the Company Secretary. CEO Prakash Gurung informed the Nepal Stock Exchange (NEPSE), Nepal Rastra Bank, the Office of the Company Registrar, CDS and Clearing Limited, and Prabhu Capital about the new board formation.
Following the completion of the merger, the integrated operation of the merged entity officially commenced on Ashadh 26 under the name Pokhara Finance Limited (PFL).
With the start of integrated operations, NEPSE has suspended the trading of shares of both former companies. According to the Merger and Acquisition Directive, 2079, the suspension will remain in effect until the required post-merger regulatory procedures are completed.