Right Issue Management Agreement Signed Between Citizens Capital and United Modi Hydropower

A Right Issue Management Agreement was formalized today between United Modi Hydropower Limited (UMHL) and Citizens Capital Limited. The signing ceremony took place at Kamaladi, Kathmandu, marking a pivotal moment for both entities.

The agreement, sealed by Mr. Narendra Ballav Panth, Chairman of United Modi Hydropower Limited, and Mr. Sabir Bade Shrestha, CEO of Citizens Capital Limited, outlines the collaboration for the management of the Right Share Issue for United Modi Hydropower Limited shareholders. The realization of this agreement is contingent upon the approval of the company's AGM/SGM in the near future.

United Modi Hydropower Limited, known for its successful development of the 10MW "Lower Modi – 1 Hydropower" project in Parbat district, is set to leverage the expertise of Citizens Capital Limited, a subsidiary of Citizens Bank International Limited, for the efficient execution of the Right Share Issue. The hydropower project commenced its commercial operations in Mangsir 2069.