Kathmandu. United Modi Hydropower Limited (UPHPL) has completed its 12th Annual General Meeting. The assembly was held at Kalimati Byanket, Kalimati, Kathmandu. The AGM presided over by Chairman of the Board of Directors of the company, Mr. Nabin Silwal approved 7.36,842% dividend. This includes 7% bonus share and 0.36842% cash dividend (for tax purposes).
The AGM elected Renuka Pandey and Prabti Adhikari as members of the board of directors. The meeting discussed and approved the annual report to be presented by the Chairman on behalf of the Board of Directors on the general proposals.
Similarly, the meeting has decided to approve the financial statements including the financial statements including the balance sheet, profit and loss accounts and cash flow details of the fiscal year 2081/082 along with the auditor’s report and appoint an auditor for the auditing work of the fiscal year 2082/083 as per the recommendation of the auditing committee.
The meeting also passed a proposal to give authority to the Board of Directors if they need to invest in other investable areas.
The meeting has also directed the Board of Directors of the company to carry out necessary works in the Electricity Regulatory Commission, Securities Board of Nepal, Nepal Stock Exchange, Office of the Registrar of Companies and CDS and Clearing to take necessary actions while making it easier for the company to invest in other companies, to make necessary amendments in the Memorandum of Association and Articles of Association accordingly, to increase the issued capital of the company, to issue and issue right shares. It has also passed a resolution to grant authority.
The meeting also passed a proposal to make necessary amendments to the Memorandum of Association and Articles of Association made by the Company Registrar Office as mentioned above and to make necessary additions or modifications in the Memorandum of Association and Articles of Association issued by the Regulatory Body and other government offices in accordance with the policy and directives issued by the Board of Directors.
