Nepal Development Public Limited Holds Second Annual General Meeting
Summary
Nepal Development Public Limited held its second annual general meeting in Kathmandu, approving 2.5% bonus shares, a cash dividend for tax purposes, and amendments that expand its financing options and foreign investment access. Chairman Chandraprasad Dhakal said the company will focus on infrastructure, hydropower, cable car tourism and information technology investments.
Key Points
- The second annual general meeting of Nepal Development Public Limited approved the annual report, financial statements and audit report for fiscal year 2082/083.
- Shareholders approved 2.5% bonus shares, Rs 1.57 million in cash dividend for tax purposes, and a provision to allocate 20% of issued capital to the general public.
- Amended articles of association will let NDP issue convertible debentures, preference shares and instruments for foreign investors, and seek support from funds such as Green Climate Fund and Blended Finance.
- Chairman Chandraprasad Dhakal said the company aims to mobilize domestic and external capital for productive sectors and expand investment into hydropower, cable car tourism and IT.
