United Modi Hydropower Issuing 100% Right Shares

NEWS NEPSE trading,

United Modi Hydropower Limited has rescheduled its postponed annual general meeting (AGM) to 27th Jestha 2080. The company's board meeting held on Wednesday decided that the AGM will commence at 11 AM at the Kalimati Banquet in Kalimati.

The previous AGM was postponed due to the lack of a quorum. The upcoming AGM will discuss and approve the annual report for the past financial year, appoint an auditor for the current financial year, and determine the auditor's remuneration.

This AGM will also approve the proposal to issue 100% right shares (1:1 ratio) to invest in the Mewa Khola Hydropower Project promoted by United Mewa Khola Hydropower, where the company has already invested.

In addition, the AGM will elect four new directors to the company's board and pass a proposal to authorize the board to identify and invest in other viable sectors if necessary.

By rescheduling the AGM, the company aims to ensure shareholder participation in all essential decisions. This move is expected to enhance the company's transparency and progress, thereby protecting the interests of the shareholders.