Manakamana Engineering Hydropower Calls SGM on March 1 to Approve Right Share

Manakamana Engineering Hydropower Limited has called a special general meeting for March 1 to endorse the issuance of right shares.

The meeting decided by the company board of directors meeting held on February 12 will take place at 11 am at Quality Banquet in New Baneshwor, said the company.

Initially, the company had sought approval from the Electricity Regulatory Commission to issue right shares in a 1:1 ratio. However, the Commission approved the issuance in a revised ratio of 1:0.7714.

“So, we have called the special SGM to approve the amended right share ratio,” said the company. The upcoming meeting is expected to formally endorse the revised issuance plan.