Kathmandu. The Ghorahi Cement Industry has called its fifth annual general meeting.

The meeting of the Board of Directors of the company held on Friday decided to hold the AGM on December 28. The assembly will begin at 9:00 am at Hotel Pauwa in Ghorahi-14, Bharatpur.

The meeting held the last fiscal year 2081. The company will approve a total dividend of 10.5263 percent of the current paid-up capital proposed for the company. This includes 10 percent bonus shares and 5,263 percent cash dividend for tax purposes.

The meeting will endorse a special proposal of issuing 75 percent right shares in the ratio of 1:0.75 after the bonus share distribution. After the issuance of bonus shares and right shares, the paid-up capital of the company will reach Rs 8.79 billion, which will also be endorsed by a special proposal to amend the Memorandum of Association accordingly.

The meeting shall pass a resolution authorizing the Board of Directors to make amendments to the Memorandum of Association and Articles of Association of the company, if any suggestion or directive is received from the regulatory body. The AGM will approve the loan amount taken from various banks and financial institutions in excess of the total amount of the company’s high paid-up capital and accumulated profit.

The meeting approved the annual and auditor’s report of the last fiscal year and the current fiscal year 2082. It will also pass a resolution to appoint an auditor for Province 83 and determine his remuneration.

The AGM will elect directors on behalf of promoter shareholders.

The company has decided to close the book on December 12 for the purpose of dividend and meeting. This means that only the shareholders who have been in possession before December 26 will be eligible to receive the dividend and attend the meeting.