Kathmandu. The Nepal Stock Exchange (NEPSE) has withdrawn the share trading of Upper Sangay Hydropower.
On Monday, NEPSE had suspended the share trading of Upper Sangay Hydropower and directed it to send a satisfactory reply within three working days, saying the company had sent the decision of the Board of Directors regarding the Annual General Meeting late. According to NEPSE, the share trading was withdrawn after the company submitted an explanation with a commitment to comply with the prevailing laws.
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.
