Panchthar Power Company Limited Calls AGM With An Agenda to Approve 100% Right Shares
Thu, Jan 16, 2025 11:35 AM on Latest, Dividend, Bonus & Rights, AGM/Special AGM, Book Closure,
Panchthar Power Company Limited (PPCL) has called its 9th AGM on 24th Magh, 2081. The meeting will be held in the Hotel Imperial Kathmandu, Battisputali, Kathmandu, starting at 11:00 AM.
These are the agendas of the AGM:
1) Endorsement of the annual report of the company.
2) Endorse the auditor's report of 2080/081 with PNL statements, financial reports, and cash flow reports.
3) Appointment of the auditor and determination of their remuneration for the fiscal year 2081/82.
4) To conduct the election of board of the directors.
5) Miscellaneous.
Furthermore, there is an agenda to issue 100% right shares. The meeting of the board of directors held on Poush 2 & 3, 2081 has decided to issue the 100% right shares on the paid-up capital of Rs. 96.25 Crore. Hence, after the issue of 9,625,000 units of right shares, the paid-up capital of the company will increase to Rs. 1.92 Arba.
The Hewa Khola "A" Hydropower Project in Panchthar, promoted by the company and financed under Sanima Bank's leadership, was completed on 14.9 MW but suffered damage due to floods on 2080/03/02 and 2081/06/10. Reconstruction is underway with additional co-financing loans, aiming to restart operations by 2081/06/15, while regular loan repayments continue.
The book closure date is announced on Magh 11. Investors maintained before that day are eligible to attend the AGM.
