Oriental Hotels Limited Calls AGM, Proposes Rights Share Issue

Oriental Hotels Limited has called its Annual General Meeting (AGM), putting forward a proposal to issue rights shares. The meeting is scheduled to be held on October 17 (Ashoj 31) at 11 AM at the Nepal Administrative Staff College, Jawalakhel, Lalitpur.

The AGM will discuss a proposal to issue rights shares in the ratio of 1:0.2663 based on the company’s current paid-up capital. The amount raised from the rights issue will be utilized for the renovation of the company’s premises.

In addition, the meeting will approve proposals to authorize the Board of Directors to amend the company’s Articles and Bylaws, elect six board members representing shareholders, and appoint one independent director.

For the purpose of the AGM, the company has announced a book closure from October 18 (Ashoj 2) to October 16 (Ashoj 30). Therefore, only shareholders registered in NEPSE by October 17 (Ashoj 1) will be eligible to participate in the AGM and apply for the proposed rights issue.