Sanima Mai Hydropower Limited (SHPC) successfully conducted its 13th Annual General Meeting (AGM) on 12th January 2025 (28th Poush, 2081). The meeting took place at Celebration Heights, Sukedhara, Kathmandu, starting at 11:00 AM.
Key Highlights of the AGM:
1. Dividend Approval:
The AGM endorsed a 10.5263% dividend for the fiscal year 2080/81, as proposed by the Board of Directors in their meeting on Mangsir 24, 2081. The dividend includes a 10% bonus share and a 0.5263% cash dividend. With the company’s paid-up capital standing at Rs. 3.39 Arba, the bonus shares are valued at Rs. 33.98 Crores, while the cash dividend amounts to Rs. 1.78 Crores, including tax for the bonus shares.
2. Financial Report Endorsement:
The shareholders approved the auditor's report, profit and loss statements, financial reports, and cash flow reports for FY 2080/81. Furthermore, an auditor was appointed for the fiscal year 2081/82.
3. Election of Directors:
Four directors, including one female director, were elected from the promoter shareholding group to strengthen the company's leadership team and governance.
4. Merger Strategy Authorization:
A major agenda of the meeting was the approval to grant full authority to the Board of Directors to initiate and execute potential mergers with other companies operating in the hydropower sector. This strategic decision aims to align the company with its long-term goals and boost operational efficiency.
Sanima Mai Hydropower Limited continues to prioritize sustainable growth and value creation for its shareholders. The outcomes of this AGM underline the company’s commitment to expanding its operations and enhancing its contribution to Nepal’s hydropower sector.
