Kathmandu. The Nepal Stock Exchange (NEPSE) has taken action against Sangay Hydropower.
Nepse has taken action against the company for sending the decision of the Board of Directors regarding the Annual General Meeting late. Nepse has also ordered to stop the share trading of the company and send a satisfactory reply within three working days.
A meeting of the board of directors of the company held on September 14 had decided to hold its ninth annual general meeting on September 29 with the agenda of issuing 100 percent right shares. However, the company had sent the decision of the board of directors to NEPSE only on September 15.
As per the provisions of Regulation 22(1) of the Securities Listing Bye-laws, 2075 BS, if information, information and decisions affecting the securities price are created, the concerned company has to submit it to NEPSE through nuts before the opening of the transaction on the same day or the next day. However, the company has been instructed to stop the share trading in violation of this arrangement and send an explanation within three working days.
