Kathmandu. Sikles Hydropower Company has called its annual general meeting once in two fiscal years.
The meeting of the Board of Directors of the Company for the fiscal year 2080. 81 and 2081. The 20th and 21st annual general meetings of the 82 Chapters have been called on December 12. The meeting will begin at 11:00 am at the Abhya Club in Gharipatan, Pokhara, Kaski.
The AGM will endorse a proposal of distributing 15.789 percent dividend to its shareholders from the accumulated profit of both fiscal years. Out of this, 15 percent will have bonus shares worth Rs 12.75 crore and cash dividend of Rs 6,710,526.32 for tax purposes.
The AGM will also endorse the proposal of issuing 100% right shares in the ratio of 1:1 of the paid-up capital to be maintained after the bonus share distribution. For this purpose, the Assembly will endorse another special proposal to amend the Regulations and Memorandum of Association.
The meeting will also endorse a proposal to give authority to the Board of Directors to carry out the necessary process in the regulatory bodies while issuing the right shares. The meeting will also elect a new board of directors.
The meeting will approve the annual report and the auditor’s report for both the fiscal years. Current fiscal year 2082. 83. The meeting shall pass a resolution relating to the appointment of the auditor and determination of his/her remuneration.
The company has decided to close the book on December 3 for the purpose of dividend and AGM. Only the shareholders of the company who have been held before December 18 will be eligible to receive the dividend and participate in the meeting.
