Siddhartha Cable Car has announced its Annual General Meeting (AGM) to be held on Sunday, Poush 27, 2082, at 2:45 PM at Siddhartha Cottage, KMC-32, Tinkune, Kathmandu. The meeting will present and discuss various ordinary and special proposals, along with other procedural matters related to the company’s governance and operations.
Ordinary Proposals to be Discussed
During the AGM, the board of directors will present the annual report for fiscal year 2081/82, which will be discussed and approved by shareholders. The following financial matters are also scheduled for discussion and approval:
- Audited Financial Statements: Review and approval of the audited financial statements, including income, expenditure, and cash flow details up to the end of Ashadh 2082.
- Consolidated Financial Statements: Approval of consolidated financial statements for Siddhartha Cable Car and its subsidiaries – Hill Side Village Resort Pvt. Ltd., and Nuwakotgadhi Tourism Pvt. Ltd.
- Auditor Appointment: Appointment of an auditor for the fiscal year 2082/83 under Section 111 of the Companies Act, 2063, and determination of the auditor’s remuneration.
- Other Routine Matters: Approval of all other matters undertaken by the board of directors until the date of the AGM.
Special Proposals for Shareholder Approval
Shareholders will also consider several special proposals, including:
- Amendment of Articles of Association: Proposal to amend Article 6 of the company’s memorandum of association.
- Public Share Issuance (IPO): Approval for issuing shares to the general public through an Initial Public Offering.
- Utilization of Share Capital: Plans for the use of capital raised through the public share issuance.
- Regulatory Compliance Authorization: Granting full authority to the board to make necessary adjustments or comply with directives issued by regulatory authorities regarding the approved ordinary and special proposals.
Participation and Proxy Guidelines
The company has outlined detailed procedures for shareholder participation:
- Shareholders attending the AGM must present their share certificate or investment receipt along with a citizenship certificate or an entry pass issued by the company.
- Shareholders unable to attend may appoint a proxy, which must be submitted at the company office before Poush 23, 2082. Changes in proxy appointments require notice at least 48 hours prior to the AGM.
- A attendance register will open at 2:00 PM for shareholders to record their presence.
- The shareholder register will be closed from Poush 20, 2082, until the AGM date to finalize eligibility for participation.
- Copies of the annual report and other relevant documents will be available to shareholders prior to the meeting at the company office during office hours.
For more details regarding the AGM, shareholders are requested to contact the company during office hours. Siddhartha Cable Car encourages all shareholders to actively participate in the meeting to approve the company’s reports and proposals, contributing to the growth and transparency of its operations.
