DFCC Vardhana Bank shareholders approve amalgamation with DFCC

dfcc

Aug 28, 2015 (LBO) – Shareholders of DFCC Vardhana Bank and DFCC Bank have approved the proposed amalgamation of DFCC Bank with DFCC Vardhana Bank at an extraordinary general meeting held today.

The amalgamation will be effective on 01 October 2015 and a payment of 52 rupees for every one ordinary voting share held in Vardhana Bank to the shareholders of Vardhana Bank other than DFCC be made in lieu of their shareholding in Vardhana Bank as at the date of the amalgamation.

The EGM of the DFCC Bank also approved the adoption of new articles of association that will be come into effect on 01 October 2015.