NRN Infrastructure Declares Bonus Shares and Announces Rights Issue Proposal

NRN Infrastructure and Development Limited (NRN) has announced a 5% bonus share distribution from its current paid-up capital, along with plans for a 1:1 rights share issuance following the bonus share allocation. This announcement reflects the company's strategic approach to strengthen its equity base and enhance shareholder value.

1. Bonus Share Distribution
   NRN has proposed a bonus share distribution at the rate of 5% of its current paid-up capital. The decision was made during a board meeting held on November 26, 2024, and the distribution is subject to approval at the company's 12th Annual General Meeting (AGM).

2. Rights Issue Proposal
   After the bonus share distribution, the company plans to issue rights shares at a 1:1 ratio, enabling existing shareholders to purchase one additional share for every share they own. This move is expected to inject significant capital, which can be utilized for future expansion and infrastructure projects.

3. Annual General Meeting Details
   The AGM is scheduled for December 27, 2024, at Amrapali Banquet, Thirbam, Kathmandu, starting at 9:00 AM. Key agenda items include the approval of the bonus shares and rights issue proposal.

4. Shareholder Eligibility and Book Closure
   The company has announced a book closure date of December 6, 2024. Shareholders wishing to be eligible for the dividend must have their shares registered by December 5, 2024.