Modi Energy to Issue 100% Right Shares, Special General Meeting on Asar 19

Modi Energy to Issue 100% Right Shares, Special General Meeting on Asar 19

Modi Energy Limited has announced a 100% right share issuance in the ratio of 1:1 based on its current paid-up capital. To approve this proposal, the company has called a Special General Meeting (SGM) on Asar 19 at 11 AM at Ranimahal Banquet, Gyaneshwor.

The company currently has a paid-up capital of NPR 2.90 billion. Following the right share issuance, the meeting will also decide on the utilization plan of the increased capital. Additionally, the agenda includes raising the authorized and issued capital, and appointing one director from the promoter group.

For the purpose of the meeting, the company has set the book closure date on Asar 12. Hence, only shareholders holding shares until Asar 11 will be eligible to participate in the SGM and apply for the upcoming right shares.