United Modi Hydropower Limited (UMHL) has announced its 11th Annual General Meeting (AGM) to take place on the 27th of Chaitra, 2081. The event is scheduled to be held at the Kalimati Banquet in Kalimati, Kathmandu, commencing at 11:00 AM.
The agenda for this AGM includes the following items:
1) Approval of the company’s annual report
2) Ratification of the auditor’s report for the fiscal year 2080/081, including profit and loss statements, financial documents, and cash flow summaries.
3) Selection of the auditor and setting their compensation for the financial year 2081/82.
Among other topics, there is a proposal to sanction the issuance of rights shares at a 1:0.65 ratio (revised from the earlier 1:1 decision) to bolster the company’s authorized and issued capital.
Furthermore, there is a plan to augment the authorized and issued capital of the company to support the issuance of rights shares. This increase in capital is intended to follow the rights shares issuance. To accommodate this, relevant clauses in the company’s bylaws and regulations need to be revised. The board of directors will be empowered with full authority to take all necessary actions regarding these modifications. Additionally, the board is authorized to manage regulatory requirements with the Electricity Regulatory Commission, Securities Board of Nepal, and the Company Registrar’s Office during the rights shares issuance process.
The book closure date is set for the 8th of Chaitra. Thus, shareholders registered before this date are eligible to participate in the AGM.
