Nepal Lube Oil Limited Calls SGM With Agenda to Issue 200% Right Shares

Nepal Lube Oil Limited (NLO) has called for its Special General Meeting (SGM) on the 29th Magh, 2081. The venue for the meeting is The Plaza, Pulchowk, Lalitpur, starting at 11:00 AM.

These are the agendas of the SGM:

i) Following the discussion during the 33rd Annual General Meeting on increasing capital through an FPO, the 377th board meeting decided to reconsider and propose alternative methods such as a right share issue. As per the decision of the 375th meeting, the previous decision to issue an FPO has been canceled, and a right share issuance in a 1:2 ratio (one right share for every two shares) is proposed for approval.
ii) After the right shares are issued, the proposal on how the raised capital will be utilized will be discussed and passed.
iii) To reflect the capital increment, amendments to the company’s memorandum of association will be proposed, including seeking approval from regulatory bodies such as the Office of the Company Registrar.
iv) A proposal to establish two fully-owned subsidiary companies for trading in components other than lubricants will be discussed. The framework will include details of the memorandum, regulations, board members, and capital structure.
v) The meeting will authorize the board to take necessary actions, including applications to the Company Registrar, Securities Board of Nepal, Nepal Stock Exchange, and CDS and Clearing Limited, among others. The board will also be empowered to appoint or delegate authority for implementing the approved decisions.
vi) Miscellaneous.

Magh 27 is the book closure date. Thus, the shareholders maintained before that can attend the SGM.

SGM Notice: