NEPSE, the Nepal Stock Exchange Limited, has decided to end the suspension on the trading of securities for Muktinath Bikas Bank Limited (MNBBL). This follows a temporary pause resulting from MNBBL’s delayed submission of information related to the dividend declaration for the fiscal year 2079/80.
In an official statement, NEPSE disclosed that MNBBL failed to provide timely details about the dividend declaration, a requirement stipulated by the Securities Listing Regulations, 2075. These regulations mandate that companies communicate notices, information, and decisions affecting securities prices to NEPSE on or before the day of business commencement.
The decision regarding the dividend declaration for the fiscal year 2079/80 was made during MNBBL’s board meeting on the 5th of Poush. However, the information about this decision reached NEPSE a day later, on the 6th of Poush, leading to an immediate suspension of MNBBL securities trading. NEPSE sought clarification from MNBBL within a three-day timeframe.
MNBBL responded to NEPSE’s inquiry, explaining that the delay was unintentional and was a result of coincidental timing. They clarified that the discussion on the dividend took place during the meeting at 4:30 P.M. on the 5th of Poush.
Despite MNBBL’s clarification, NEPSE, in a decision dated 2080/09/11, issued a warning to MNBBL and directed the resumption of the suspended securities transactions. The warning underscores MNBBL’s obligation to fully comply with the Securities Listing Regulations, 2075, and its associated terms.