19th AGM of Arun Valley Hydropower to approve 10% bonus share; FPO of 31.57 lakh unit shares in pipeline

Arun Valley Hydropower Development Company Limited (AHPC) will be conducting its 19^thAnnual General Meeting (AGM) on Bhadra 17, 2073. The AGM is going to be held at Trade Tower Nepal, Second Floor, Thapathali Kathmandu at 11:00 AM. AHPC becomes the first listed company to announce AGM for 2073/74 fiscal year. Main agendas of the AGM are:

• To endorse 10 percent bonus shares and 0.526 percent from the net profit it earned from the fiscal year 2072/73.
• To increase authorized and issued capital up to Rs 1.50 arba from existing Rs 1 arba.
• To float 3, 157,883 unit Further Public Offering (FPO) shares to general public after bonus share is issued. FPO will be issued to raise capital for the company’s ongoing projects construction.
• To change ordinary and promoter share structure and to amend article of association and memorandum of association.
• To reduce the number of BOD member from 7 to 5.

Other agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Shrawan 30, 2073 is entitled to the bonus and right share of the company. The register of their shareholders will remain closed from Shrawan 31, 2073 till Bhadra 17, 2073 for the purpose of its AGM. AHPC had earned net profit of Rs 5.93 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. Arun Valley Hydropower  is a 3 MW hydropower project. The projects under AHPC are Piluwakhola Hydropower Project (3MW), Ridikhola Hydropower (2.4 MW), Kabeli-B1 Hydropower (25MW) and Arun Kabeli Hydropower Project (25 MW).