Exchange Suspends Trading of KLBSL; This is Why

The exchange has suspended the trading of Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) due to inconsistency in the message that the company unveiled to the public.

The company previously issued an AGM notice calling the AGM on 29th Chaitra, 2077. Among the agendas of the AGM, there was a particular agenda to discuss the issuance of the right shares. The notice stated that the AGM would discuss issuing 1: 1 rights shares from the paid-up capital maintained as of now.

However, in another notice that the company unveiled on the very next day, the rights issue was removed from the upcoming AGM's agenda. It was mentioned on the second announcement that the first notice had erroneous information. Nonetheless, the exchange has now halted KLBSL's trading and demanded a clarification within 3 working days.

NEPSE's suspension move was also triggered by the fact that the notice was unveiled at 3: 56 pm on Chaitra 09. News and notices that have the potential to impact a company's stock price must be unveiled before market hours, on the same day, or the day after. As of writing, KLBSL has an LTP of Rs. 1,689.