Kalinchowk Darshan Limited (KDL) has called its 12th Annual General Meeting (AGM) for Ashwin 16, 2083, at German Homes Hotel, Gatthaghar, Bhaktapur. The meeting of Kalinchowk Darshan Limited (KDL) will begin at 11:30 AM. The AGM will consider and endorse several key financial and corporate proposals, including the distribution of bonus shares, a cash dividend for tax purposes, a proposed rights issue, and expansion of Kalinchowk Darshan Limited (KDL)’s business objectives.
8.9474% Dividend Proposal on the Agenda
One of the major agendas of the AGM is the endorsement of an 8.9474% dividend for the fiscal year 2082/83. The company’s Board of Directors meeting held on Bhadra 24, 2083, had proposed an 8.5% bonus share worth approximately Rs. 5.35 crore, along with a 0.4474% cash dividend worth approximately Rs. 28.18 lakh for tax purposes. Kalinchowk Darshan Limited (KDL) currently has a paid-up capital of Rs. 63 crore. Following the proposed bonus share distribution, the company’s paid-up capital will increase to Rs. 68.355 crore.
1:1 Rights Share Proposal
The AGM will also consider a proposal to issue 100% rights shares in a 1:1 ratio following the distribution of the proposed bonus shares. Under the proposal, the company will issue 68,35,500 units of rights shares at a face value of Rs. 100 per share, based on the post-bonus paid-up capital of Rs. 68.355 crore. The proposed rights issue is part of the company’s ongoing capital-raising process and will be adjusted following the distribution of the proposed 8.5% bonus shares.
Business Scope to Expand into New Sectors
Kalinchowk Darshan Limited (KDL) has also proposed expanding and diversifying its business activities. The AGM will consider amendments to Clause 4 of the company’s Memorandum of Association (MoA) to add and modify business objectives, allowing the company to undertake investments and businesses in sectors including agriculture, hydropower, information technology and manufacturing. The proposed diversification is aimed at broadening the company’s business scope and creating opportunities for investment beyond its existing areas of operation.
Capital Structure to Be Revised
Another agenda involves increasing the company’s authorized and paid-up capital to accommodate the capital expansion resulting from the proposed bonus and rights shares. The company will also seek approval to make necessary amendments to the relevant provisions of its Memorandum of Association and Articles of Association in line with the revised capital structure.
The AGM will further authorize the Board of Directors to make any necessary changes, additions, or modifications to the company’s constitutional documents if directed by regulatory authorities, including the Office of the Company Registrar and the Securities Board of Nepal (SEBON).
Financial Statements and Auditor Appointment
The AGM will also endorse the auditor’s report and financial statements, including the profit and loss statement, balance sheet, and cash flow statement for FY 2082/83. In addition, shareholders will consider the appointment of an auditor for FY 2083/84 and approve the appointment of the company’s Board of Directors.
Book Closure Set for Ashwin 9
Kalinchowk Darshan Limited (KDL) has fixed Ashwin 9, 2083, as the book closure date for the AGM and dividend entitlement. Therefore, shareholders who hold the company’s shares before the book closure date will be eligible to receive the proposed dividend and participate in the 12th AGM.
