Nepal Stock Exchange Limited (NEPSE) has lifted the suspension on the trading of Taragaon Regency Hotel Limited (TRH) securities. The company is set to resume trading, marking the conclusion of a brief hiatus prompted by the delayed submission of information regarding the dividend declaration for the fiscal year 2079/80.
NEPSE's official statement revealed TRH's failure to provide details about the dividend declaration in time, a requirement according to Securities Listing Regulations, 2075. Companies are mandated to furnish notices, information, and decisions influencing securities prices to NEPSE on or before the day of business commencement.
The board of directors of TRH held a meeting on the 16th Mangsir and the decision regarding the dividend declaration of 2079/80 was made. However, the information reached NEPSE on the subsequent day, 17th Mangsir at 5:15 pm, leading to the immediate suspension of TRH securities trading. NEPSE sought clarification from TRH within three working days.
TRH responded to NEPSE's query, explaining that the delay was attributed to a server mail problem encountered on the day of submission, 16th Mangsir. The company claimed that the notice was dispatched to NEPSE on the same day, but due to the server issue, it reached NEPSE on the subsequent day.
Despite TRH's explanation, NEPSE, in its decision dated 2080/08/19, issued a warning to TRH and instructed the release of the suspended securities transactions. The warning emphasizes TRH's obligation to fully comply with the Securities Listing Regulations, 2075, and the terms.