Bindhyabasini Hydropower Development Company Limited has proposed a 5% bonus share dividend, followed by a 100% right share issuance at a 1:1 ratio. The company has called its 10th Annual General Meeting (AGM) for Kartik 18 to seek approval for the proposed dividend distribution and capital expansion plans.
According to the Board of Directors' proposal, shareholders will receive 5% bonus shares based on the company's existing paid-up capital, along with a 0.2632% cash dividend to cover applicable taxes. Following the distribution of bonus shares, the company plans to issue right shares at a 1:1 ratio based on the resulting paid-up capital. If approved, shareholders will be eligible to purchase one additional share for every share they hold under the applicable terms.
The AGM will be held at Anmol Banquet in Shankhamul, Kathmandu, at 9:30 AM on Kartik 18. The meeting will consider the annual report, balance sheet, and profit-and-loss statement for fiscal year 2082/83. Other proposals include issuing debentures convertible into ordinary shares, amending the company's memorandum and articles of association, and appointing an auditor for the current fiscal year.
The company has set Kartik 10 as the book closure date for the AGM and dividend distribution. Accordingly, shareholders who hold shares by Kartik 9, based on NEPSE trading and settlement records, will be eligible for the proposed dividend and participation in the AGM, subject to the applicable requirements. The proposed bonus shares and right share issuance remain subject to the necessary approvals.
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