Kathmandu. Bhotekoshi Power Company has made it clear that it has not agreed to provide free shares.
The company has given this clarification in a statement. “The attention of the company has been drawn to this news that on October 12, the Bhotekoshi Genji Public Investment Public Limited and the Bhotekoshi Power Company Pvt Ltd, representing the locals of Bhotekoshi of Sindhupalchowk district, have agreed to give free shares,” the statement reads. ’
“Bhotekoshi Genji Public should have made the local people directly affected by the hydropower project shareholders before applying for 10 percent shares of Bhotekoshi Power,” reads the statement. “We would like to clarify that Bhotekoshi Power has agreed to sell only 10 percent of its shares at face value of Rs 100 per share to the mentioned company and the company will take loan from the bank to purchase the mentioned shares and Bhotekoshi Power will arrange only the guarantee for the loan,” reads the statement.
As the construction of the project has already been completed, it has been clarified to all the media and the concerned bodies not to be misled about the agreement to give free shares to Bhotekoshi Power as it has agreed to use the 10 percent share to be distributed annually for the loan and interest taken by the same company.
