Shivam Cement Promoted Shivam Holdings Calls AGM On Kartik 22, Major Agendas To Give Cash Dividend And To Issue IPO At Premium Price

Shivam Holdings Limited has officially announced the convening of its 2nd Annual General Meeting (AGM), scheduled to take place on the 22nd of Kartik, 2080, at the company's headquarters located in Anamnagar, Kathmandu. The meeting is set to commence at 11:00 AM on the specified day.

Several important matters are on the agenda for this forthcoming AGM. At present, the company boasts an issued capital of Rs. 5.80 Arba, out of which 20%, equivalent to 1,16,00,000 unit shares, is proposed to be issued to the general public at a premium price. The existing paid-up capital of Shivam Holdings stands at Rs. 4.36 Arba. Among the key proposals to be deliberated during the meeting is the distribution of a 4% cash dividend, amounting to Rs. 17.44 Crores to its eligible shareholders.

Furthermore, a decision will be made concerning the reduction of the number of directors from the current seven to five.

It is noteworthy that Shivam Holdings is closely linked to Shivam Cements Limited (SHIVM), Nepal's pioneer cement company to issue an IPO. Shivam Cements holds a substantial 88% stake in Shivam Holdings, and the promoters of Shivam Holdings also play a pivotal role in promoting Shivam Cements. Simultaneously, Shivam Holdings maintains a 30% ownership stake in one of Nepal's largest cement plants, Hongshi Shivam Cement Private Limited, which operates as a joint venture in collaboration with the Hongshi Group from China.

SHIVM is promoted by individuals from various large/reputed business houses of Nepal, viz. the Lucky Group, the Goel Group, the Sharda Group, the Bhimsaria Group, the Maru Group and the Mundara Group who have extensive experience across diverse businesses

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