According to a release issued by Bank of Punjab to the BSE, the scheme of amalagmation will be effective from October 1, 2005. Centurion Bank will issue 23.6 crore equity shares of Re 1 each to the shareholders of Bank of Punjab.
As per the merger scheme, Bank of Punjab shareholders will get nine equity shares of Centurion Bank of Re 1 each for every four equity shares held.
