Kathmandu. KATHMANDU: The twelfth annual general meeting of Mountain Energy Nepal Limited (ME) was held in Kathmandu on Monday. The meeting held under the chairmanship of the company’s chairman Pradip Jung Pandey endorsed various proposals including distribution of dividend.
The AGM decided to provide 20 percent bonus shares to the shareholders from the profit of the fiscal year 2081/82 BS and Rs. 1.00 crore for tax purposes. The board of directors has approved the proposal of distributing 21.0526 percent dividend with cash dividend of 0526 percent. The dividend will be distributed to the shareholders as soon as it is approved by the AGM.
The meeting also approved the annual report of the fiscal year 2081/82 presented by Chair Pandey. The meeting also approved the schedule related to balance sheet, profit and loss account, cash flow statement and annual financial statement along with auditor’s report.
Likewise, the meeting decided to appoint an auditor to carry out auditing for the fiscal year 2082/83 as per the Companies Act-2063 BS and determine his/her remuneration. The meeting also approved a proposal to authorize the Board of Directors to make necessary amendments to the Memorandum of Association and Regulations.
Currently, Mountain Energy Nepal Limited has been generating electricity from the 42 MW Mistry Khola and 5 MW Tadikhola hydropower projects and the 65 MW Dudhkhola Hydropower Project is under construction.
