National Hydropower AGM postponed due to insufficient quorum; next meeting fixed for Poush 13

National Hydropower Company Limited (NHPC) has postponed its Annual General Meeting today. The hydropower company was going to convene its 16th, 17th, 18th & 19th Annual General Meeting (AGM) today. Kumar Pandey, Chairman of National Hydropower Company said, ‘Due to insufficient quorum, we had decided to cancel the AGM. Only around 250 shareholders were present in the AGM which accounted to 10% of the total outstanding shares of the company.’ Normally presence of 51% shareholding is necessary to conduct an AGM. ‘The AGM has been postponed to 13^th of Poush. Presence of only 25% shareholdings will now be necessary ’-added Mr Pandey. The main agendas of the AGM were:

• Authorize BOD to endorse merger/ acquisition with other hydropower companies.
• To discuss financials of fiscal year 2068/69.
• To endorse expenses done under gift, donations, hospitality, expenses VDC, supporting not available and Differed Revenue Expenditure