Universal Power AGM today; to convert preference share into ordinary & float IPO

Universal Power Company Limited is convening its Annual General Meeting (AGM) today (Bhadra 29, 2074). The AGM is be ingheld at Amritbhog Party Palace, Kalikasthan, Kathmandu at 3:00 PM. The main agendas of the AGM are:

• To convert preference shares into ordinary shares.
• To float Initial Public Offering (IPO) shares for the general public.
• To amend the Article of Association and Memorandum of Association 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 2073/74. The register of their shareholders has been closed on Bhadra 15, 2074 till Bhadra 29, 2074 for the purpose of this AGM. Universal Power Company Limited, a subsidiary of CEDB Hydro Fund Limited, is developing Tallo Khare Khola Hydropower Project (11 MW). CEDB Hydro Fund is seeking approval in the board to float 22.89 lakh units IPO shares worth Rs 22.89 crore to the general public.