Time Pharmaceuticals Limited Calls SGM With Agenda to Discuss IPO
Wed, Apr 2, 2025 11:12 AM on Latest, IPO/FPO News, AGM/Special AGM,
Time Pharmaceuticals Limited called its SGM on 11th Baishakh, 2082. The meeting will be held at 12:30 PM in the company's register office, Gaidakot.
These are the agendas:
1. To amend the Article of the memorandum and increase the current authorized capital from Rs. 42,91,11,800 to Rs. 46,00,00,000.
2. To amend the article of the memorandum for the distribution of issued capital, with 79.3478% allocated to the promoter "Ka" group and 20.6521% to the public shareholders "Kha" group.
3. To amend the rules of the company's regulations, making provisions related to special general meetings equivalent to those for ordinary meetings.
4. To amend the rules to form a Board of Directors consisting of 7 members: 5 from the promoter shareholding group (including at least 1 female director), 1 from the public shareholding group, and 1 independent director.
5. To issue ordinary shares via the book-building method.
6. To discuss the utilization of funds raised from the public offering.
7. To grant the Board of Directors the authority to proceed with all necessary steps for the initial public offering (IPO).
8. To decide on the remuneration, allowances, and other benefits for the executive chairperson, managing director, directors in charge of company management, and other directors.
9. To approve the amendments and additions made to the company's memorandum and regulations, granting the Board of Directors the authority to make further changes if directed by regulatory authorities.
ICRA Nepal has reaffirmed the long-term rating of [ICRANP] LBBB- (pronounced ICRA NP L triple B minus) for the long-term obligations of Time Pharmaceuticals Private Limited (Time or the company). Additionally, ICRA Nepal has reaffirmed the short-term rating of [ICRANP] A3 (pronounced ICRA NP A three) for the company’s short-term obligations.
Time Pharmaceuticals Limited, established in 1994 and operational since 1997, is a leading pharmaceutical company in Nepal. It specializes in formulating pharmaceutical molecules through reverse engineering and producing therapeutic drugs. Time offers a broad range of medications across various categories, including antibiotics, cold remedies, supplements, analgesics, and antidiabetic drugs.
