Kathmandu, February 23, 2025– Phedikhola Hydropower Company Limited successfully conducted its Special General Meeting (SGM) yesterday at D.D.I Banquet, Buddhanagar, Kathmandu. The meeting, which commenced at 10:30 AM, focused on crucial decisions and updates regarding the company’s ongoing hydropower project.
The key highlights of the meeting were as follows:
1. Progress Report of the Project Construction
The company presented a comprehensive report on the construction progress of the Phedikhola Hydropower Project, detailing milestones achieved and outlining plans for the project's completion.
2. Approval of Agreements
The SGM approved agreements related to Electro-Mechanical, Hydro-Mechanical, and Civil Construction works that were previously finalized by the Board of Directors.
3. Construction Expenses
Detailed discussions were held regarding the expenses incurred during the construction phase, ensuring transparency and accountability in the project’s financial management.
4. Share Sale and Purchase Approval
The meeting approved the proposal to seek clearance from the Electricity Regulatory Commission for the sale and purchase of shares, a key step in securing funding and facilitating project execution.
5. Capital Structure Conversion
The SGM approved changes to the company’s capital structure to optimize financial resources and support the project's successful completion.
6. Issuance of IPO Shares
A major decision taken during the meeting was the issuance of Initial Public Offering (IPO) shares, allowing public participation in the company’s growth while generating additional funds for the project.
7. Amendment of Articles of Association
The company finalized amendments to its Articles of Association, ensuring compliance with regulatory requirements and alignment with project objectives.
The SGM marked a significant step forward for Phedikhola Hydropower Company, with stakeholders expressing optimism about the project's future. The decisions made during the meeting are expected to expedite the completion of the hydropower project while maintaining transparency and stakeholder engagement.
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