Sikles Hydropower Announces 15% Bonus Shares and Plans to Issue 100% Right Shares; Calls Two AGMs at Once

Sikles Hydropower Limited has announced a combined annual general meeting (AGM) for two fiscal years, along with a proposal to distribute dividends and issue right shares. The company’s Board of Directors, in its meeting held on Mangsir 8, decided to distribute a total dividend of 15.789% from the accumulated profit up to the end of Ashad 2082.

According to the decision, the company will distribute 15% bonus shares to its shareholders and an additional 0.789% cash dividend for tax purposes. This combined payout marks the company’s proposal to reward shareholders while also strengthening its capital base through bonus shares.

The company has called its 20th and 21st Annual General Meetings on the same day. The AGMs are scheduled to take place on Mangsir 29 at Aabhya Club, Pokhara, beginning at 11:00 AM. By conducting two AGMs together, the company aims to finalize pending agendas of both fiscal years in a single sitting.

A major agenda of the AGM includes the proposal to issue 100% right shares after the bonus shares are capitalized. This means the company will issue right shares equivalent to its paid-up capital after the issuance of bonus shares. Additionally, amendments to the company’s Articles of Association and Bylaws will be proposed. The AGM will also authorize the Board of Directors to make necessary changes if required by regulatory authorities.

For the purpose of dividend distribution and AGM participation, the company has decided to close its shareholders’ register (book closure) on Mangsir 18. Therefore, only those shareholders whose names are recorded in NEPSE by Mangsir 17 will be eligible to attend the AGMs and receive the declared dividends.