Nepal Hydro and Electric to convene its 13th AGM; Company calls for AGM for the third time


    Nepal Hydro and Electric Limited has recalled its 13th AGM to be held on Jestha 17, 2075 i.e today. The meeting will be held in Company’s registered office, Butwal at 10:00 AM. The hydropower company had called its meeting on Jestha 07, 2075 which was cancelled due to non-fulfillment of quorum.

    The main agendas of the AGM are:

    • To endorse 5% bonus shares from the profit of FY 2073/74 and 5 % cash dividend (for tax purpose)
    • To restructure the promoter’s structure as per the ratio presented by Butwal Power Company Limited (BPCL)
    • To discuss regarding the loan limit
    • To amend the Memorandum of the company.
    • To increase the authorized capital to Rs 16 crore and issued capital to Rs 15.38 lakh

    Other agendas of the AGM include endorsement of financial highlights of the FY 2073/74 and appointment of the auditors and the Board of Directors.

    Initially, the AGM was called on Jestha 07 which could not be convened due to non-fulfillment of quorum. Later the meeting was recalled on Jestha 17 which was also dismissed due to non-fulfillment of quorum. It is the third time the meeting has been called upon.

    Source: The ShareSansar