NEPSE Suspends Trading of Mahuli Laghubitta (MSLB) and Mahila Laghubitta (MLBSL); NEPSE Ask for Clarification Within 3 Days

According to the official notice of Nepal Stock Exchange (NEPSE), the transaction of Mahuli Laghubitta Bittiya Sanstha Limited (MSLB) and Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) has been stopped as both the companies declared dividends to be issued to the shareholders without prior approval of NEPSE.

The letter regarding the dividend declaration of the Fiscal year 2078/79 by Mahila Laghubitta was received by Nepal Stock Exchange at 11.07 AM during business hours today.

Whereas, Mahuli Laghubitta conducted a meeting to propose dividend to the shareholders during the business hour at 2:30 PM yesterday.

According to the provision in Regulation 22(1)(d) of the Securities Listing Regulations, 2075, if notices, information and decisions affecting securities prices are created, such notices, information and decisions must be submitted to NEPSE on the same day or the next day before the opening of business.

Since MSLB and MLBSL contradicted the rules outlaid by NEPSE, the trading of the securities of the said company has been suspended. Likewise, within 3 (three) working days, the company is required to submit an explanation in this regard.

Mahila Laghubitta has proposed a 50% dividend worth Rs. 7.37 crores for the fiscal year 2078/79. Whereas, Mahuli Laghubitta has proposed a 25% dividend for the fiscal year 2078/79.