Sayapatri Hydropower to Release 50% Pledged Shares of Shareholders and Officials

Sayapatri Hydropower Limited (SPHL) has decided to release 50 percent of the pledged shares held by shareholders and company officials, following the 84th Board of Directors meeting held on 11th Ashwin 2082.

According to the decision, the move comes as the company has repaid more than 50 percent of the co-financing loan taken for the Daram Khola ‘A’ Hydropower Project. The pledged shares were deposited with co-financing banks, Nepal Bank Limited and Global IME Bank Limited, during the loan period.

The Board resolved that half of the pledged shares of all shareholders and officials will be released. For this purpose, Nepal Bank Limited, the lead bank, will be requested to coordinate the process. The company’s Chief Accountant, Krishna Chalise, has been granted full authority to execute all necessary actions related to the release of the pledged shares.