Ngadi Group Power’s 4th AGM today; to endorse 10% bonus & 30% right shares

Ngadi Group Power Limited (NGPL) is convening its 4^th Annual General Meeting (AGM) today  (Ashwin 4, 2074). The AGM is being held at Amrit Bhog Caterers, Kalikasthan, Dillibazar, Kathmandu at 11:00 AM. The main agendas of the AGM are:

• To endorse 10% stock and 0.526% cash dividends (for tax purpose) to its shareholders from the profit of FY 2073/74.
• To endorse 30% right shares after distribution of 10% stock dividends
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA) as per directions received by regulatory bodies

Other agendas of the AGM include endorsement of financial statements of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM was set on Bhadra 22 for only one day. Thus, shareholders holding shares till Bhadra 21, i.e. one day ahead of the book closure date are eligible to participate in AGM and for 10% stock dividends. Separate book closure date will be announced for 30% right shares. Last year, NGPL had distributed 5% cash dividend to its shareholders from the profit it made in 2072/73 FY. Ngadi Power has earned net profit of Rs 4.06 crore in the fourth quarter of the FY 2073/74. The hydropower company’s paid up capital stood at Rs 48.68 crore, after issuance of 10% bonus and 30% right shares its paid up capital will reach Rs 69.62 crore. Siluri Hydropower Company, promoter of Ngadi Group Power Limited (NGPL) is going to build a 40.27 MW Super Nyadi Hydropower Project along the Nyadi river in Lamjung district.