Purwanchal Lube Oil Calls AGM With Agenda to Discuss IPO Issuance And Dividend Proposal

Purwanchal Lube Oil Limited has called its 2nd AGM on 9th Ashwin, 2081. The meeting will be held in the Airport Hotel, Sinamangal, Kathmandu, starting at 10 AM that day.

These are the agendas of the AGM:

1) Endorsement of the annual report of the company
2) Endorse the auditor's report for 2080/81 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) Propose 10.526 cash dividends (including tax) worth Rs. 3.15 Crores to the existing shareholders.
5) To issue an Initial Public Offering (IPO) to the general public.
6) To pass the resolution regarding the necessary amendments to the company's rules and regulations.
7) To authorize the Board of Directors to modify the Articles of Association and Regulations, and to make adjustments or additions regarding the issuance of primary shares as per directives received from the regulatory body.

Purwanchal Lube Oil (PLO), a leading lubricant in the Nepali market, was launched in 2000 by Purwanchal Lube Oil Pvt Ltd. The company manufactures Engine Oil, Lubricants, Grease, and other petroleum products and has been distributing its production and sales for the past 23 years. At present, there are more than 93 dealers and more than 11,000 retailers across Nepal, introducing various brands of imported lubricants.

AGM Notice: