Shiva Shree Hydropower Calls Out AGM, approving issuance of 100% Right Share

Shiva Shree Hydropower (SSHL) has officially scheduled its annual general meeting (AGM) for October 12th, which corresponds to the 25th day of Ashwin, to be held at 11 a.m. in the Yeti Events and Conference Center situated within the Jailing Complex, Basundhara, Kathmandu.

During this AGM, shareholders will be called upon to approve a proposal regarding the issuance of a 1:1 right share. Furthermore, the AGM will empower the Board of Directors (BOD) to make changes to the company's articles and memorandum of association, alter the registered address of the company, elect new members to the Board of Directors, and designate an auditor. It's important to note that the company will officially close its books on the 17th day of Ashwin, which falls on October 4th. Consequently, only shareholders registered in the company's records by October 3rd will have the eligibility to participate in the AGM.

 In a previous decision made during a board of directors meeting on the 14th day of Baisakh in the year 2080, SSHL had decided to issue the right shares in a 1:1 ratio, equivalent to 100% of the current paid-up capital. As of now, the company's current paid-up capital stands at Rs. 1.47 Arba. Following the issuance of the right shares, the paid-up capital of the company will rise to Rs. 2.95 Arba.

 The company is issuing the right shares to pay back the bank debt.