Api Power Company (API) convened its first Special General Meeting on Chaitra 27, 2072. The AGM was held on Trade Tower Nepal, Second Floor, Thapathali. Api Power company had conducted its 12th AGM on Poush 30, 2072. The company plans to become one of the biggest hydropower development company within 5 years.
The SGM of Api Power Company has endorsed 1:2 right share for construction of hydro power projects. The money collected after the issuance of the right shares, will be used in construction of 75 MW Trishuli Galchi hydropower project.
At present, the company has an authorized capital of Rs. 125 crore, issued capital of Rs. 100 crore and paid up capital of Rs. 100 crore. Api power company has already completed 8.5 MW Naugad hydropower project and its commercial production started from 1st of Bhadra, 2072.
With an aim to foster the business of the company, Api power company plans to start the construction of 8 MW upper Naugad after receiving the approval letter. An investment of 143 crore is required for the construction of upper Naugad. The company intends to start the project from 1st Jestha, 2073 and start generating electricity by 1st Kartik, 2074. For the completion of the project the company will be taking loan of Rs 100 crore from the banks and using Rs 43 crore collected from the shareholders of Api Power Company.
The company has projected to have a net profit of Rs. 12 crore in the ongoing fiscal year.
Starting from this fiscal year, the company will be regularly providing at least 10% dividend to its shareholders from the net profit of every fiscal year. The SGM has also endorsed the agenda to start construction of 75 MW Trishuli Galchi and 8 MW upper Naugad project in the year 2073.
source:sharesansar.com.10 april 2016
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The SGM of Api Power Company has endorsed 1:2 right share for construction of hydro power projects. The money collected after the issuance of the right shares, will be used in construction of 75 MW Trishuli Galchi hydropower project.
At present, the company has an authorized capital of Rs. 125 crore, issued capital of Rs. 100 crore and paid up capital of Rs. 100 crore. Api power company has already completed 8.5 MW Naugad hydropower project and its commercial production started from 1st of Bhadra, 2072.
With an aim to foster the business of the company, Api power company plans to start the construction of 8 MW upper Naugad after receiving the approval letter. An investment of 143 crore is required for the construction of upper Naugad. The company intends to start the project from 1st Jestha, 2073 and start generating electricity by 1st Kartik, 2074. For the completion of the project the company will be taking loan of Rs 100 crore from the banks and using Rs 43 crore collected from the shareholders of Api Power Company.
The company has projected to have a net profit of Rs. 12 crore in the ongoing fiscal year.
Starting from this fiscal year, the company will be regularly providing at least 10% dividend to its shareholders from the net profit of every fiscal year. The SGM has also endorsed the agenda to start construction of 75 MW Trishuli Galchi and 8 MW upper Naugad project in the year 2073.
source:sharesansar.com.10 april 2016
LINK
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