Sikles Hydropower Limited Calls 20th and 21st Annual General Meeting
25th November 2025, Kathmandu
Sikles Hydropower Limited has formally announced the convening of its joint 20th and 21st Annual General Meetings (AGMs).
Sikles Hydropower Calls AGM
This announcement follows a decision made by the Board of Directors on November 24, 2025. The meeting is highly anticipated as it carries an extensive agenda, including significant capital restructuring proposals such as the issuance of both bonus and right shares. All registered shareholders have been invited to attend the meeting.
AGM Schedule and Logistics
The logistics for the joint AGM have been finalized, with the meeting taking place in Pokhara, Kaski.
Date: The AGM is scheduled for December 15, 2025.
Time: The meeting will commence at 11:00 AM.
Venue: The chosen location is Abhya Club, Gharipatan-17, Pokhara, Kaski.
Attendance: The attendance book for shareholders will be open from 10:00 AM on the meeting day. Shareholders are required to bring either their share certificates or valid photo identification. Institutional representatives must present official authorization documents, and those using Demat accounts must present their DMAT account number.
Eligibility and Book Closure Notice
To determine which shareholders are eligible to participate in the AGM and receive the proposed dividends and bonus shares, the company has announced a book closure date.
Book Closure Date: The share register will remain closed on December 4, 2025.
Eligibility Cut-off: Only shareholders whose shares are recorded in the Nepal Stock Exchange (NEPSE) records by the previous day, December 3, 2025, will be eligible to participate in the AGM and receive any approved dividends or bonus shares.
Key Resolutions to be Voted Upon
The meeting agenda is divided into Ordinary and Special Resolutions, with the Special Resolutions focusing on major changes to the company’s capital structure.
A. Ordinary Resolutions (Standard Business)
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Chairman’s Report: Shareholders will discuss and approve the Chairman’s reports for the last two fiscal years, 2023/24 and 2024/25.
Financial Statements: Approval will be sought for the audited financial statements for FY 2023/24 and 2024/25, including the balance sheet, profit and loss account, cash flow statements, and all accompanying auditor reports and schedules.
Auditor Appointment: The meeting will appoint the company auditor for the upcoming fiscal year, 2082/83, and determine their remuneration.
Cash Dividend Approval: The Board has recommended a cash dividend of 0.789 percent of the paid-up capital. This amounts to a total payout of Rs 6,710,526.32 and is intended specifically for tax purposes related to the bonus share distribution.
Board Member Election: The shareholders will elect members to the Board of Directors as per the company’s articles.
B. Special Resolutions (Capital Restructuring)
Bonus Shares: A critical agenda point is the approval for the distribution of bonus shares at 15 percent of the paid-up capital. This substantial bonus issue amounts to Rs 125 million, which will be capitalized from the company’s reserves, increasing the paid-up capital before the right share issue.
Right Share Issue: Following the approval and issuance of the bonus shares, the company proposes to further increase its paid-up capital by issuing right shares in a 1:1 ratio. This means that for every share held after the bonus share issuance, the shareholder will be entitled to purchase one additional right share at the face value of Rs 100. This is a significant move to strengthen the company’s equity base for potential future projects or debt servicing.
Articles and Memorandum Amendments: Necessary amendments to the Company’s Articles of Association and Memorandum of Association will be approved to align with the new capital structure and any other regulatory requirements.
Authorization to the Board: The Board of Directors will be empowered to handle all regulatory procedures related to the right share issuance with key authorities, including the Electricity Regulatory Commission, Securities Board of Nepal, Nepal Stock Exchange, and the Office of the Company Registrar.
Proxy and Minor Rules
The company has set clear guidelines for representation at the AGM. Shareholders who cannot attend may assign a proxy. Proxy forms must be submitted to the central office in Mustangchowk, Ward 7, Pokhara, at least 48 hours before the AGM. A proxy holder must also be a shareholder, and if the original shareholder attends, the proxy becomes automatically invalid. For minors or legally incapacitated shareholders, their registered guardians may attend or assign a proxy on their behalf.
For further information, shareholders are advised to visit the company website at www.sikleshydro.com.np or contact the central office in Pokhara during business hours.
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