Prabhu Cable Car & Tourism Limited has officially announced the convening of a Special General Meeting (SGM) for its shareholders, following the decision of the company’s Board of Directors in its meeting held on 22nd Bhadra, 2082. The meeting will be held on 10th Ashoj, 2082, at 3:00 PM at Siddhartha Cottage, Ward No. 32, Tinkune, Kathmandu. Shareholders are invited to attend the meeting personally or appoint representatives through proxies to participate in discussions and decision-making.
Agenda of the Special General Meeting
The Special General Meeting will focus on several critical resolutions aimed at strengthening the company’s governance and capital structure. The agenda includes the following proposals:
- Amendments to Memorandum and Articles of Association
The meeting will discuss proposed amendments to Sections 6 and 7 of the Memorandum of Association and Rule 18 of the Articles of Association. These changes aim to align the company’s legal documents with current regulatory requirements and operational needs. - Issuance of Rights Shares
Shareholders will consider the proposal to issue rights shares at a rate of 12.63. This move is designed to raise additional capital for the company’s growth and expansion projects while providing existing shareholders with the opportunity to increase their equity stake. - Transfer of Rights Shares
The company will also review measures to facilitate the transfer of rights shares, ensuring that the process is transparent, efficient, and compliant with applicable regulations. - Implementation of Agreement with Siddhartha Cable Car Limited
The Board will discuss the execution of agreements with Siddhartha Cable Car Limited, focusing on the operational and financial arrangements that will strengthen strategic collaborations and service offerings. - Board Authority on Amendments
Shareholders will consider granting the Board of Directors the authority to make further adjustments to the Memorandum and Articles of Association as per directives issued by regulatory authorities. This provision ensures that the company can respond quickly to legal or operational requirements without waiting for subsequent shareholder approvals. - Miscellaneous Matters
Any other matters deemed necessary for the effective functioning of the company may also be discussed during the meeting.
Proxy and Participation Guidelines
Shareholders wishing to appoint representatives must submit their proxy forms by 7th Ashoj, 2082, during office hours at the company’s office. Attendance at the meeting will require shareholders or their proxies to present either a valid citizenship certificate or an entry pass issued for the SGM.
If a shareholder wishes to cancel a previously submitted proxy and appoint another representative, the notice must be delivered to the company office at least 48 hours before the start of the meeting.
Attendance and Registration
The attendance register will be available from 2:00 PM on the day of the meeting for shareholders to sign in. Furthermore, the company has closed its shareholder registration books from 1st Ashoj, 2082 until the date of the Special General Meeting to finalize eligible participants.
Shareholders are encouraged to contact the company office during office hours for detailed information regarding the SGM and related procedures.
Strategic Importance of the Meeting
This Special General Meeting marks a pivotal step in the company’s strategic planning and governance. By amending key sections of its Memorandum and Articles of Association, issuing rights shares, and facilitating operational agreements, Prabhu Cable Car & Tourism Limited aims to strengthen its market presence, enhance shareholder value, and ensure compliance with financial and regulatory frameworks.
The issuance of rights shares, in particular, demonstrates the company’s commitment to equitable participation of existing shareholders in capital expansion initiatives. Meanwhile, empowering the Board with the flexibility to make regulatory amendments ensures that the company can operate efficiently in a dynamic business environment.
About Prabhu Cable Car & Tourism Limited
Established as a leading player in Nepal’s tourism sector, Prabhu Cable Car & Tourism Limited provides modern cable car services and tourism infrastructure, contributing significantly to domestic tourism and economic development. With a focus on innovation and customer experience, the company continues to explore new avenues for growth while maintaining transparency and governance standards.
The company’s head office is located at Ward No. 32, Kathmandu, and it operates under the guidance of a professional Board of Directors committed to sustainable business practices. For inquiries, shareholders can contact the office at 01-5904961/01-5904964 or visit the official website: www.prabhucablecar.com.
Shareholder Engagement
Prabhu Cable Car & Tourism Limited encourages all shareholders to actively participate in the Special General Meeting. Engaged and informed shareholders play a crucial role in shaping the company’s strategic decisions, financial policies, and operational growth initiatives.
By attending the meeting or appointing proxies, shareholders can exercise their rights, provide feedback on key proposals, and contribute to the long-term success of the company. The Board of Directors underscores the importance of full shareholder participation to ensure that all decisions reflect the collective interest of the company’s owners.
The Special General Meeting scheduled for 10th Ashoj, 2082, is set to address important governance and financial matters for Prabhu Cable Car & Tourism Limited. Shareholders are urged to attend, review the proposed resolutions, and actively participate in the company’s strategic decision-making processes, thereby supporting the continued growth and success of Nepal’s premier cable car and tourism service provider.
