Kathmandu: Purwanchal Lube Oil Limited has called the annual general meeting proposing to issue initial public offering (IPO) shares. The meeting of the board of directors of the company held on 17th of Bhadra has decided to call the general meeting of the company.
The second annual general meeting of the company will start at 10 am at Airport Hotel Sinamangal on Wednesday 9th of Ashwin.
The assembly will pass a special resolution to issue the IPO to the general public. Also, cash dividend equal to 3 crore 15 lakh 78 lakh rupees which is 10.52 percent of the paid up capital will be passed.
In addition, the agenda for the meeting has been set to approve the proposal to amend the Articles of Association and Regulations and the financial statements including the annual report for the financial year 080-81. The meeting will grant the authority to the board of directors to amend and amend the articles of association and regulations and the primary share issuance.