Kathmandu. KATHMANDU: The twelfth annual general meeting of Mountain Energy Nepal Limited (ME) was held in Kathmandu on Monday. The meeting held under the chairmanship of the company’s chairman Pradip Jung Pandey endorsed various proposals including distribution of dividend.

The AGM approved the proposal of distributing 20 percent bonus shares and 1.0526 percent cash dividend to the shareholders from the profit of FY 2081÷82.

The meeting also approved the annual report of the fiscal year 2081÷82 presented by Chair Pandey. The meeting also approved the schedule related to balance sheet, profit and loss account, cash flow statement and annual financial statement along with auditor’s report.

Likewise, the meeting decided to appoint an auditor to carry out auditing for the fiscal year 2082÷83 as per the Company Act, 2063 and determine his/her remuneration. The meeting also approved a proposal to authorize the Board of Directors to make necessary amendments to the Memorandum of Association and Regulations.

Currently, Mountain Energy Nepal Limited has been generating electricity from the 42 MW Mistry Khola and 5 MW Tadikhola hydropower projects and the 65 MW Dudhkhola Hydropower Project is under construction.