Kathmandu. River Falls Power has asked its directors and basic shareholders to deposit the right share amount.
The company has issued a notice today making this request. A meeting of the board of directors of the company held on July 19 has set a deadline of August 15 for the directors and basic shareholders to deposit the amount for the right shares.
The notice urges the directors and basic shareholders to contact the company for bank account details to deposit Rs 100 per share for the right shares within the stipulated period. The company has clarified that if it does not receive the application amount for the right shares from the basic shareholders, including any director, within this period, it will be done as per the rules.
The Securities Board of Nepal has allowed the company to issue right shares worth Rs 700 million in the ratio of 1:1 of the current paid-up capital of Rs 700 million i.e. 100 percent. According to the Securities Issue and Allotment Guidelines, 2074 BS, the company’s directors and basic shareholders (holding 1 percent of the paid-up capital and above) have to pay the amount for the right shares to be taken by them before opening the right share application for the general shareholders.
