Oriental Bank of Commerce [Merged]: Outcome Of Board Meeting - Share Exchange Ratio Pursuant To Scheme Of Amalgamation Of Oriental Bank Of Commerce And United Bank Of India Into Punjab National Bank Notified On 04Th March 2020 And Intimation Of Record Date

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.