Further to our communication dated 19.03.2020, please find enclosed copies of Notice regarding the Grievance Redressal Committee''s Report on the objections of shareholders on the Share Exchange Ratio published in the Newspapers by Punjab National Bank on 20.03.2020.
Pursuant to Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform that we are in receipt of information for loss of share certificate along with a request to mark STOP TRANSFER.
Further to our communication dated 05.03.2020 wherein the Share Exchange Ratio of 1150 equity shares of Rs.2/-each of PNB for every 1000 equity shares of Rs.10/-each of OBC as approved by the Board of Directors was notified. In this context, we wish to state that in terms of Sub Para (6) of Para 6 of Amalgamation of Oriental Bank of Commerce and united Bank of India into Punjab National Bank Scheme, 2020 notified by the Government of India, an Expert Committee i.e. Grievance Redressal Committee was set up to address the grievances/objections of shareholders and submit a Report to the Board of Directors to address the grievances/ objections raised by the shareholders who were eligible as per the Scheme. The Committee has since submitted its'' Report which has been considered by the Board of Directors of the Bank on 19th March 2020 and it has been decided that no change is required in the Share Exchange Ratio (stated above) as approved by the Board.
This is to inform that the Bank has decided to reduce MCLR for 1 year tenor from 8.15% to 8.10% w.e.f.10.03.2020. The revised applicable NCLR rates for different tenors has been stated in the attached file.
Further to our communication dated 05.03.2020, please find enclosed copies of Notice regarding formation of Grievance Redressal Committee for addressing objections on the Share Exchange Ratio and fixation of Record Date published in the Newspapers by Punjab National Bank on 06.03.2020.
This is to inform that the Board of our Bank at its meeting held today i.e. 05th March, 2020 has approved the Share Exchange Ratio in respect of amalgamation of Oriental Bank of Commerce (Transferor Bank) into Punjab National Bank (Transferee Bank) subject to statutory / regulatory approval (as mentioned in the letter enclosed). We further wish to state that Punjab National Bank has fixed Wednesday, 25th March, 2020 as the 'Record Date' for issuing and allotting equity shares of the Punjab National Bank to the Shareholders of Oriental Bank of Commerce and United Bank of India as per the Share Exchange Ratio. The same has been taken on record by the Board of Directors of our Bank.
Reg: Issue of Duplicate Share Certificate This is to inform that pursuant to Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Bank has issued duplicate share certificates to the shareholders upon completion of the requisite procedures.
This is to inform that pursuant to Regulation 39(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Bank has issued a duplicate share certificate in lieu of original share certificate bearing no. 523041 (reported lost) to the shareholder upon completion of the requisite procedure as per details enclosed. You are requested to take the above on record.
This is to inform that United Forum of Bank Unions (UFBU) have called a two days Strike on 31st January and 01st February, 2020, in support of their demands. In the event the strike materializes, the normal functioning of the Bank may get effected. The information is being furnished in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.