Hotel Parkland Limited has convened a Special General Meeting (SGM) to seek shareholders’ approval for a series of key proposals, including an increase in the company’s authorised and issued capital and the issuance of 1:1 rights shares to its existing shareholders.
Hotel Parkland Limited, based in Ward No. 6, Ratnanagar Municipality, Chitwan, published the second notice regarding the Special General Meeting on Shrawan 12, 2083, informing all shareholders to participate in the meeting, which has been called following a decision of the Board of Directors made on Ashadh 28, 2083.
Shareholders to Decide on Capital Expansion of Hotel Parkland Limited
One of the major agenda items for the upcoming meeting of Hotel Parkland Limited is the approval of a proposal to increase the company’s authorised and issued capital. The management believes that strengthening the capital base is necessary to support the company’s future business expansion and long-term financial plans.
The proposal will be presented as a Special Resolution in accordance with the provisions of the Companies Act, 2063, requiring approval from the shareholders. If endorsed, the increased capital will provide the company with greater financial flexibility for future investments and business development.
Company Proposes 1:1 Rights Share Issue
Another key agenda item of the Special General Meeting is the proposal to issue rights shares at a 1:1 ratio (one new share for every existing share held) to the current shareholders. Under the proposed plan, every shareholder will be entitled to purchase one additional share for each share already owned, based on their existing shareholding.
The rights share issue is expected to significantly increase Hotel Parkland Limited’s paid-up capital while allowing existing shareholders to maintain their proportional ownership in the company. The proposal will also require approval from the shareholders through a special resolution before it can proceed through the necessary regulatory process.
Amendment to Memorandum and Articles of Association
As the proposed capital increase would alter the company’s capital structure, shareholders will also be asked to approve necessary amendments to the company’s Memorandum of Association and Articles of Association. The amendments are intended to align the company’s constitutional documents with the revised authorised and issued capital following the approval of the rights issue and capital enhancement plan. The proposal will be tabled as a special resolution in compliance with prevailing company laws.
Board and Management to Receive Implementation Authority
The Special General Meeting will also consider a proposal to authorise the Board of Directors and the company management to complete all legal, administrative and regulatory procedures required to implement the decisions approved by the shareholders. Granting such authority would enable the Board to coordinate with the concerned regulatory bodies, complete documentation and carry out all necessary formalities relating to the capital increase, rights share issuance and amendments to the company’s governing documents.
Meeting Scheduled for Shrawan 22 in Lalitpur
According to the notice, the Special General Meeting will be held on:
- Date: Friday, Shrawan 22, 2083
- Venue: Yala Durbar, Shankhamul, Lalitpur
The company has requested all shareholders to attend the meeting at the designated date, time, and venue to participate in discussions and cast their votes on the proposed special resolutions.
Special Resolutions to Be Presented Under the Companies Act of Hotel Parkland Limited
Hotel Parkland Limited stated that all agenda items will be presented as Special Resolutions under the provisions of the Companies Act, 2063 and other prevailing laws. Approval by the shareholders will be required before the company can proceed with the proposed capital increase, rights share issuance and amendments to its constitutional documents.
The decisions made during the Special General Meeting are expected to play a significant role in shaping the company’s future capital structure and supporting its long-term growth strategy in Nepal’s hospitality sector.
