Nepal Lube Oil Limited Proposes 20% Bonus Shares and 1.05264% Cash Dividend

Nepal Lube Oil Limited (NLO) proposes a 21.05264%% dividend for FY 2080/81 and has called the 34th AGM on Ashwin 31, 2082.

The 383rd meeting of the board of directors held on Ashwin 01 has proposed a 21.05264% dividend for the fiscal year 2080/81. 20% bonus shares and 1.05264% cash dividends have been proposed. The company's existing paid-up capital is Rs. 7.29 Crores.

There is an agenda to approve and endorse the auditor’s report along with the profit and loss statements, financial statements, and cash flow statements for FY 2081/82, and to appoint an auditor for the fiscal year 2082/83. The agenda also includes directors from the public shareholding group.

Following the issuance of the bonus shares, the company plans to issue rights shares in a 1:2 ratio, which has been submitted to SEBON for approval, along with the bonus shares dividend already approved by the Special General Meeting. Upon approval of the above-mentioned bonus shares and the capital increment through the right share issuance, to amend the Company’s Memorandum of Association for the purpose of increasing the authorized, issued, and paid-up capital.

The book closure date is on Ashwin 12. Therefore, the shareholders who were maintained before that day are entitled can attend this AGM.