Nepal Lube Oil Limited has called its 35th Annual General Meeting to pass proposals for distributing dividends and issuing rights shares.
Nepal Lube Oil Limited is going to organize its 35th Annual General Meeting on Ashoj 19. The 391st board of directors meeting of company decided to host the AGM at The Plaza in Pulchowk, Lalitpur at 11:30 AM.
Book Closure Date
For the purpose of this AGM, company will close its book from Ashoj 5 to Ashoj 19. This means only the shareholders registered before Ashoj 5 are eligible for the dividend and to attend meeting.
Key Agendas of the AGM
In the meeting, shareholders will discuss and approve the board of directors report, auditor report, and financial statements like balance sheet, income statement, and cash flow statement for the fiscal year 2082/83. The meeting will also approve joint financial reports that includes NLOL Energy Ltd. and NLOL Synergy Ltd.
There is also a proposal to appoint P. Pramas and Associates as the external auditor for fiscal year 2083/84 with a salary of Rs 3 Lakh. The meeting will also approve the reorganization of board of directors and the salary and benefits of Chairman, Chief Executive Officer, and Executive Director.
Dividend Details
Under the special proposals, Nepal Lube Oil has proposed to distribute 15 percent bonus shares and 6.05264 percent cash dividend from its paid-up capital. This makes a total of 21.05264 percent dividend for shareholders. The total cash dividend amount is Rs 52 Lakh 92 thousand 138 and 86 paisa.
The proposed bonus shares will be given based on the paid-up capital maintained until Ashad end 2083. The company announced to distributing the remaining cash dividend after deducting tax for both bonus and cash dividends.
Rights Share Proposal
The company also has a proposal regarding its 1:2 rights shares. They had previously sent an application to Securities Board of Nepal for issuing 14 Lakh 57 thousand 253.60 units of rights shares. The rights issue will be limited only to this amount.
The meeting will also discuss a proposal to adjust the extra bonus shares distributed from the AGMs of fiscal year 2081/82 and 2082/83 within those 14 Lakh 57 thousand 253.60 units on a pro-rata basis.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
