Introduction to Ghorahi Cement Industry’s Annual General Meeting
The Ghorahi Cement Industry has announced its fifth annual general meeting, which is set to take place on December 28. The meeting will be held at Hotel Pauwa in Ghorahi-14, Bharatpur, and will commence at 9:00 am.
Meeting Details and Proposals
The meeting was decided upon by the Board of Directors of the company, which held a meeting on Friday. The assembly will discuss and approve several proposals, including a total dividend of 10.5263 percent of the current paid-up capital. This dividend includes 10 percent bonus shares and 5,263 percent cash dividend for tax purposes.
Key Proposals and Resolutions
The meeting will also endorse a special proposal to issue 75 percent right shares in the ratio of 1:0.75 after the bonus share distribution. After the issuance of bonus shares and right shares, the paid-up capital of the company will reach Rs 8.79 billion. A special proposal to amend the Memorandum of Association accordingly will also be endorsed. Furthermore, the meeting shall pass a resolution authorizing the Board of Directors to make amendments to the Memorandum of Association and Articles of Association of the company, if any suggestion or directive is received from the regulatory body.
Financial Approvals and Auditor Appointment
The AGM will approve the loan amount taken from various banks and financial institutions in excess of the total amount of the company’s high paid-up capital and accumulated profit. The meeting approved the annual and auditor’s report of the last fiscal year and the current fiscal year 2082. It will also pass a resolution to appoint an auditor for Province 83 and determine his remuneration.
Election of Directors and Book Closure
The AGM will elect directors on behalf of promoter shareholders. The company has decided to close the book on December 12 for the purpose of dividend and meeting. This means that only the shareholders who have been in possession before December 26 will be eligible to receive the dividend and attend the meeting.
Conclusion
In conclusion, the Ghorahi Cement Industry’s fifth annual general meeting is set to take place on December 28, where several key proposals and resolutions will be discussed and approved. The meeting will play a crucial role in shaping the company’s future, and shareholders are encouraged to participate and exercise their rights. With the company’s paid-up capital set to reach Rs 8.79 billion after the issuance of bonus shares and right shares, the meeting is expected to have a significant impact on the company’s growth and development.
