Adjustment of Bhagawati Hydropower's Share Price: Preparation for Annual General Meeting and Dividend Distribution

Bhagawati Hydropower has adjusted its share price on the Nepal Stock Exchange (NEPSE) in preparation for its annual general meeting (AGM) and dividend distribution. The company has announced a book closure on October 2, 2024 (Asoj 2, 2081 B.S.).

Book Closure Date:

• The book closure is set for October 2, 2024. Shareholders whose names are registered with NEPSE until Monday will be eligible to participate in the AGM and receive dividends.

Share Price Adjustment:

• NEPSE has adjusted the share price to account for the company's 4% bonus shares.

• The adjusted share price is set at NPR 918.37, based on the last trading price of NPR 955.10.

Share Trading:

• The company's shares will reopen for trading on Wednesday at the adjusted price.

AGM Date and Venue:

• The 24th Annual General Meeting is scheduled for Wednesday, October 16, 2024, at Arpan Banquet, Thapagaun, New Baneshwor, Kathmandu, starting at 11:00 AM.

Dividend Proposal:

• The company has proposed a total dividend distribution of 14.7368%:

  • 4% bonus shares of the current paid-up capital.

  • 10.7368% cash dividend for tax purposes.

Other Proposals:

• Increasing the authorized capital and amending the company's Articles of Association accordingly.

• Appointing an auditor and electing two directors representing the founder shareholders.

Bhagawati Hydropower is making preparations for its AGM and dividend distribution while adjusting its share price accordingly. These measures aim to benefit shareholders financially and bring further improvements to the company's capital and management. Shareholders are encouraged to attend the AGM and contribute to critical decisions that will shape the company's future.