Api Power Company to increase its issued capital; calls for SGM on Chaitra 28 for discussion on 200% right share

Api Power Company Limited (API) will be conducting its Special General Meeting (SGM) on Chaitra 28, 2073. The SGM is going to be held at Trade Tower Nepal, 2^nd floor, Thapathali, Kathmandu at 1:00 PM. The main agendas of the SGM are:

• To use the amount generated from 200% right share (endorsed by SGM last year) to develop 75 MW Siddhakali Power project, a subsidiary project of Api Power and also for the installation of solar projects in various substations of the country.
• To increase its issued capital up to Rs 400 crore from existing Rs 300 crore.
• After issuance of right share its capital structure will change and amend the article of association accordingly.

The register of their shareholders will close on Chaitra 15, 2073 till Chaitra 28, 2073 for the purpose of this SGM. Only those shareholders holding shares traded one trading day ahead of the book closure date i.e. Chaitra 14, 2073 are eligible for participation for this SGM. Api Power has completed 30% work of the 8 MW Upper Naugarh Gad Small Hydropower Project and is planning to start the commercial operation of the project next year. Api Power Company Limited has earned Rs 3.45 crore in the second quarter of the FY 2073/74, up from only Rs 84 lakh last year. Its paid up capital currently stands at Rs 1.05 arba.