Resumption in Trading: NEPSE Lifts MNBBL Suspension

The Nepal Stock Exchange Limited (NEPSE) has ended the suspension on the trading of Muktinath Bikas Bank Limited (MNBBL) securities. The company is ready to restart trading after a short pause due to the delayed submission of information on the dividend declaration for the fiscal year 2079/80.

NEPSE's official statement revealed MNBBL's failure to provide details about the dividend declaration in 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.

During MNBBL's board meeting on the 5th of Poush, the decision regarding the dividend declaration for 2079/80 was made. However, the information reached NEPSE a day later on the 6th of Poush, leading to an immediate suspension of MNBBL securities trading. NEPSE requested clarification from MNBBL within three working days.

MNBBL responded to NEPSE's inquiry, explaining that the delay was unintentional and a result of coincidental timing. They clarified that the discussion regarding the dividend took place during the meeting at 4:30 P.M. on the 5th of Poush.

Despite MNBBL's explanation, NEPSE, in its decision dated 2080/09/11, issued a warning to MNBBL and instructed the release of the suspended securities transactions. The warning emphasizes MNBBL's obligation to fully comply with the Securities Listing Regulations, 2075, and the terms.