Three Star Hydropower to Issue 1:1 Rights Shares, Calls Three Annual General Meetings at Once
Three Star Hydropower Limited has proposed to issue rights shares at a 1:1 ratio. The company has called its ninth, tenth, and eleventh annual general meetings on Ashwin 27 in Kathmandu to present the proposal.
Three Star Hydropower Limited has proposed to issue rights shares at a 1:1 ratio. The company has called its ninth, tenth, and eleventh annual general meetings at once to present the proposal.
The board of directors meeting held on Ashwin 2 decided to hold the annual general meetings of three fiscal years together. The meeting will be held on Ashwin 27 at Smart Durbar Pvt. Ltd. in Shankhapark, Kathmandu, at 10 AM.
The meeting will discuss and approve the annual reports, audit reports, and financial statements for fiscal years 2080/81, 2081/82, and 2082/83. It will also approve the appointment and remuneration of auditors for fiscal years 2081/82 and 2082/83, and appoint a new auditor for the current fiscal year 2083/84.
Under special proposals, the following matters are included:
- Changing the company's address and capital structure
- Transferring rights related to the purchase of rights shares
- Amending the company's memorandum and articles of association
- Issuing rights shares at a 1:1 ratio
The company has also proposed to authorize the board of directors to make necessary changes as per any directives or suggestions from regulatory bodies regarding the regulatory process required for issuing rights shares and amendments to the memorandum and articles of association.
The meeting will also discuss the proposal to form a board of directors and elect three directors, including one woman. For the purpose of the annual general meeting, there will be a one-day book closure on Ashwin 15. The company has stated that only shareholders who have traded on NEPSE until Ashwin 14 will be able to participate and vote in the meeting.