Bindhyabasini Hydropower Development Company Limited has officially announced plans to issue bonus shares and rights shares to its shareholders ahead of their upcoming tenth annual general meeting.
Details of the Dividend and Rights Issue
The company decided to distribute a 5 percent bonus share to all its shareholders. To cover the tax payments for these bonus shares, the board has also proposed a cash dividend of 0.2632 percent. This plan was finalized during a board of directors meeting held on Ashoj 26 at 3:30 PM.
Besides the bonus shares, the company is preparing to issue rights shares in a 1:1 ratio. This means shareholders will get the chance to add more shares to their portfolio. The company also wants to issue debentures that can eventually be converted into ordinary shares, and they plan to use the funds collected from these activities for their future operations.
Annual General Meeting and Shareholder Information
The company has scheduled its tenth annual general meeting for Kartik 18, 2083, which is a Wednesday. To manage the process of the meeting, the company will close its shareholder registration book for one day on Kartik 10. During this day, the share transfer process will remain closed.
During the meeting, the management also plans to propose amendments to section 6 (a, b, and c) of the company’s memorandum of association. The company mentioned that they will publish more details about the meeting notice later on.
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.
