Chandragiri Hills Limited Calls 16th AGM with Dividend and Right Share Proposals After Gen Z Movement Damage
16th December 2025, Kathmandu
Chandragiri Hills Limited has officially announced the convening of its 16th Annual General Meeting (AGM), marking a resilient step forward after a period of significant turmoil and operational disruption. The announcement comes in the wake of the severe impact caused by the Gen Z movement earlier this year, which resulted in widespread damage to the company’s infrastructure. Despite these challenges, the company has managed to restore its facilities and is now moving forward with critical corporate governance procedures, including a 1:1 right share proposal and a dividend distribution to reward its shareholders.
Chandragiri Hills Calls AGM
The decision to hold the AGM signals a return to normalcy for one of Nepal’s most prominent tourism landmarks, which serves as a major gateway to the religious and scenic heights of the Kathmandu Valley.
Background: Damage, Restoration, and Resumption of Operations
The company faced its most severe operational crisis on September 9, 2025 (Bhadra 24, 2082), during a wave of national unrest associated with the Gen Z movement. The popular tourist destination, which features a sophisticated cable car system and a luxury resort, was targeted by protesters, leading to extensive vandalism and arson.
Extent of the Damage: According to company reports, the Bottom Station facilities in Thankot were the hardest hit. The damage included the cable car operational units, gondola storage areas, administrative and accounting offices, as well as on-site restaurants and ticket counters. The destruction was so comprehensive that all business activities had to be suspended immediately to ensure public safety and to allow for technical assessments.
Technical Restoration: To bring the service back to international safety standards, Chandragiri Hills Limited brought in technical experts from Doppelmayr of Austria, the original manufacturer of the cable car system. These specialists supervised weeks of rigorous repairs, safety tests, and structural inspections.
Resumption of Services: After approximately 60 days of closure, the company successfully resumed regular operations on Mangsir 15. To celebrate the reopening and thank the public for their patience, the management offered a special 25 percent discount on tickets on the first day of operations. This resumption was a crucial precursor to the announcement of the 16th AGM.
Details of the 16th Annual General Meeting
The Board of Directors meeting held on December 15 (Mangsir 29) finalized the details for the upcoming gathering.
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The 16th Annual General Meeting is scheduled to take place on January 7, 2026 (Poush 23, 2082). The proceedings will begin at 11:00 AM at the company’s own Bottom Station premises in Thankot, Kathmandu. This venue is particularly symbolic, as it was the site of the recent restoration efforts. Shareholders are encouraged to attend to review the annual financial reports and vote on several transformative proposals that will determine the bank’s capital structure for the coming years.
Dividend and Right Share Proposals
Despite the financial losses incurred due to the temporary shutdown and repair costs, the company has proposed a dividend to maintain investor confidence.
Proposed Dividend: The Board of Directors has recommended a total dividend consisting of 5 percent bonus shares based on the current paid-up capital. Additionally, a 0.2632 percent cash dividend has been proposed, which is specifically intended to cover the tax obligations associated with the bonus share distribution. This ensures that shareholders receive their additional shares without an immediate tax burden.
1:1 Right Share Issuance: Following the distribution of the bonus shares, the company plans to undergo a major capital expansion. The AGM will deliberate on a proposal to issue right shares in a 1:1 ratio. This means that every shareholder will have the right to purchase one new share for every share they currently hold. The primary objective of this massive issuance is to strengthen the company’s financial stability, manage existing debt, and provide the necessary capital for future operational needs and infrastructure improvements.
Other Key Agendas and Governance
Beyond the capital-related votes, the 16th AGM will cover a range of statutory and administrative matters necessary for the smooth operation of the public limited company.
The meeting will formally review and seek approval for the annual report, auditor’s report, and full financial statements for the previous fiscal year, including the balance sheet and profit and loss accounts. Shareholders will also vote on the approval of a loan taken from Prabhu Bank Limited, which was likely instrumental in funding the recent restoration works. Other agendas include the appointment of an independent director and authorizing the Board of Directors to make necessary amendments to the Memorandum and Articles of Association to reflect the new capital levels after the right share issue.
To determine eligibility for the dividend and participation in the meeting, the company has announced a book closure date of December 26, 2025 (Poush 11, 2082). Only those shareholders who are registered with the Nepal Stock Exchange (NEPSE) as of December 24, 2025 (Poush 9, 2082), will be eligible to attend the AGM and receive the proposed rewards. The successful completion of this AGM is expected to play a pivotal role in the company’s long-term recovery and growth.
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