Forward Microfinance Laghubitta To Resume Trading Following NEPSE's Lift on Suspension

Nepal Stock Exchange Limited (NEPSE) has lifted the suspension on the trading of Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) securities. The company is set to resume trading, marking the conclusion of a brief hiatus prompted by the delayed submission of information regarding the no dividend for the fiscal year 2079/80.

NEPSE's official statement revealed FOWAD's failure to provide details about the dividend news on time, a requirement according to Securities Listing Regulations, 2075. Companies are mandated to furnish notices, information, and decisions influencing securities prices to NEPSE on or before the day of business commencement.

The board of directors of FOWAD held a meeting on the 27th Mangsir and the decision regarding the no dividend for FY 2079/80 was made. However, the information reached NEPSE on the subsequent day, 28th Mangsir at 12:46 pm, leading to the immediate suspension of FOWAD securities trading. NEPSE sought clarification from FOWAD within three working days.

FOWAD responded to NEPSE's query, explaining that the delay was attributed to a server mail problem encountered on the day of submission, 27th Mangsir. The company claimed that the notice was dispatched to NEPSE on the same day, but due to the server issue, it reached NEPSE on the subsequent day.

Despite FOWAD's explanation, NEPSE, in its decision dated 2080/09/03, issued a warning to FOWAD and instructed the release of the suspended securities transactions. The warning emphasizes FOWAD's obligation to fully comply with the Securities Listing Regulations, 2075, and the terms.