Hulas Iron Industries AGM: Approving IPO & Key Financials

Notice Regarding the Second Annual General Meeting of Hulas Iron Industries Ltd.

HULNS IRON INDUSTRIES LTD. (Hulas Iron Industries Limited) is pleased to announce the details for its Second Annual General Meeting (AGM) for the financial year 2080/81.

In accordance with the decision of the Board of Directors meeting held on 2081.08.26 and the requirement to provide shareholders with 21 days’ advance notice as stipulated in Rule 18 (3) of the Company’s approved Articles of Association, all esteemed shareholders are cordially requested to attend the upcoming meeting.

Meeting Details

Proposals to be Discussed at the Second AGM

The meeting agenda includes discussions and approvals on both General and Special Proposals vital for the company’s future.

A. General Proposals

1. Annual Report Discussion: Discussion on the Annual Report of the Company for the year 2080/2081, presented by the Chairman on behalf of the Board of Directors.
2. Financial Work Approval: Presentation of the audited profit and loss account, cash flow statement for the year 2080/2081, and the balance sheet for the month of Ashadh 2081, along with the auditor’s report, followed by discussion and approval.
3. Auditor Appointment: Appointment of the auditor for the audit of the accounts for the year 2081/2082 as per the Companies Act, 2063, and determination of their remuneration.
4. Donation Approval: Regarding the approval of donations exceeding the statutory limit for the Fiscal Year 2080/81.
5. Borrowing Limit: Regarding the borrowing of more than the total amount of paid-up capital and accumulated profit of FY 2080/81.
6. Board Election: Regarding the election of a new board of directors as per the Companies Act.

B. Special Proposals

1. Initial Public Offering (IPO): Discussion and approval to conduct an initial public offering to the general public at a premium price as proposed by the Board of Directors, in accordance with the company’s memorandum of association and regulations. This includes the issuance and sale of shares to relevant sectors and groups at the percentage specified in the prevailing securities rules, and discussion of the use of the proceeds from the public offering.
2. Board Composition Change: To change the composition of the board of directors as mentioned in the amended memorandum of association and regulations, after the company’s public offering.
3. Underwriter Appointment: To appoint an underwriter for the company’s initial public offering.
4. Board Authorisation: Special resolution authorising the Board of Directors to take any action required in connection with the initial public offering and to implement the decisions of the general meeting, including any necessary registration, addition, or amendment directed by the regulatory body.

C. Miscellaneous

Any other matters not covered in the above proposals may be discussed under this section.

For further inquiries, please contact:

Hulas Iron Industries Limited

• Address: Ka.District, Ka.M.N.Pa. Ward No. 28 Kamaladi, Kathmandu
• Phone: 01-5970085
• Email: hulasiron.com

By order of the Board of Directors,

The Company Secretary

(First published on 2081/09/15)