Barun Hydropower Company Limited has officially announced a proposal to distribute a 5 percent dividend to shareholders and issue a 100 percent rights share after the bonus shares are distributed.
The company board meeting held on Ashoj 26 decided to provide a 4.75 percent bonus share and a 0.25 percent cash dividend for tax purposes to its shareholders. This distribution is based on the current paid-up capital of Rs. 1 arba 12 crore 25 lakh 32 thousand 425. The bonus shares are worth Rs. 5 crore 33 lakh 20 thousand 290 and 18 paisa while the cash dividend amounts to Rs. 28 lakh 6 thousand 331 and 6 paisa. These plans will go into effect after the annual general meeting gives the approval.
Proposed 1:1 Rights Share Issuance
After the distribution of bonus shares, the company is planning to issue rights shares in a 1:1 ratio. This means shareholders will get one new share for every single share they own. The capital base for this issuance will be Rs. 1 arba 17 crore 58 lakh 52 thousand 715 and 18 paisa. To make this happen, the company will seek permission to increase its authorized, issued and paid-up capital, and they will also amend the company articles of association. The board of directors has been given the authority to make necessary changes if the regulatory body suggests any adjustments.
23rd Annual General Meeting on Kartik 20
The company will hold its 23rd annual general meeting on Kartik 20, Friday at Smart Darbar in Shankhapark, Kathmandu starting at 9:30 AM. The meeting agenda includes discussing the financial reports, auditor reports, and profit and loss statements of the fiscal year 2082/83. They also plan to appoint an auditor for the fiscal year 2083/84 and elect four new board members, consisting of three from the promoter group and one from the general public. For the purpose of attending the meeting, the company set Kartik 11 as the book close date.
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.
