Sayapatri Hydropower to Release 50% of Pledged Shares After Successful Loan Repayment
Big news for Sayapatri Hydropower Limited (SPHL) shareholders! The company has announced it will release 50% of its pledged shares, marking a significant milestone in its financial journey. This decision, made during the 84th Board of Directors meeting on Ashwin 11th, 2082, comes after the company successfully repaid more than half of the co-financing loan secured for the Daram Khola ‘A’ Hydropower Project.
These pledged shares were initially deposited with the co-financing banks, namely Nepal Bank Limited and Global IME Bank Limited, as collateral during the loan period. With significant debt reduction achieved, the board has now resolved to release half of the pledged shares held by all shareholders and company officials.
This is a positive step reflecting the financial health and sustainable energy achievements of SPHL. Investing in hydropower projects like Daram Khola ‘A’ contributes to renewable energy goals and long-term financial stability.
To facilitate the release of shares, Nepal Bank Limited, serving as the lead bank, will be requested to coordinate the entire process. Krishna Chalise, the company’s Chief Accountant, has been granted full authority to execute all necessary actions related to the release. This move is expected to boost investor confidence and further solidify Sayapatri Hydropower’s position in the hydropower industry. Keep an eye on further updates regarding this exciting development in the Nepal stock market. This is a win for both the company and its shareholders.
