Singati Hydro Energy Announces Plan to Issue 100% Rights Shares After Bonus Distribution

Singati Hydro Energy Limited (SHEL) has decided to issue 100% rights shares following the distribution of recently announced bonus shares. The decision was made during the company’s 10th meeting of the Board of Directors for FY 2082/83, held on Mangsir 08, 2082, at 5:30 PM. According to the board’s decision, the company will issue rights shares in the ratio of 1:1, meaning shareholders will be eligible to apply for one rights share for every share they hold after the bonus shares are allotted.

The company stated that the proceeds collected from the rights issue will be utilized to invest in additional hydropower projects. Any remaining funds from the issuance will be used to repay existing loans. Singati Hydro Energy has further announced that this proposal will be tabled for approval in its upcoming Annual General Meeting (AGM).