Thamel Plaza Hotel Calls AGM With An Agenda To Issue IPO

Thamel Plaza Hotel & Suites Limited has called its 12th AGM on 7th Chaitra, 2080. The meeting will be held in the Thamel Plaza Hotel & Suites Limited, Thamel, Kathmandu, starting at 4:00 PM.

These are the agendas of the AGM:

1) Endorsement of the annual report of the company
2) Endorse the auditor's report for 2079/80 with PNL statements, financial reports, and cash flow reports.
3) Appointment of the auditor and determination of their remuneration for the fiscal year 2080/81.
4) To issue ordinary shares to the general public.

CARE Ratings Nepal Limited (CRNL) has placed the ratings of ‘CARE-NP BB’ assigned to the long-term bank facilities and ‘CARE-NP A4’ assigned to the short-term bank facilities of Thamel Plaza Hotel & Suits Private Limited (TPHS) on ‘credit watch with negative implications’.

Thamel Plaza Hotel & Suits Limited was incorporated on January 05, 2012. The company is setting up a premium hotel property in Thamel, Kathmandu which will operate under the brand name ‘Ramada Encore Kathmandu Thamel’. The hotel has completed its construction with a total of 90 room keys. TPHS is being promoted by 37 shareholders including two institutional promoters and has infused total paidup equity of Rs. 271 Mn as of July 16, 2019.

AGM Notice: