Nepal Stock Exchange (NEPSE) has suspended the trading of two companies namely, Nadep Laghubitta Bittiya Sanstha (NADEP) and Nepal Lube Oil Limited (NLO). The two companies are under investigation after untimely notification of dividends to NEPSE.
Both the companies made delays in informing NEPSE about the proposed dividend due to which the trading in the two companies has been suspended until further notice. NEPSE has suspended trading in the mentioned companies for detailed investigation into the activities of both the companies.
NADEP’s BOD meeting was held on 12th Mangsir which decided to propose 30% bonus shares worth Rs.4.80 Crore. However, this decision was notified to NEPSE only after two days of the BOD meeting.
Similarly, BOD meeting of NLO was held on 13th Mangsir which decided to propose 10% bonus shares and 30% cash dividend for the shareholders. However, NEPSE was notified about the same on 16th Mangsir after the market was closed for the day.