Purwanchal Lube Oil Limited has scheduled its 24th Annual General Meeting (AGM) for the 29th of Poush, 2080. The venue for the meeting is set to be the Company Register Office in Sundarharaicha, Morang, Biratchowk, commencing at 11 AM on the specified day.
The proposed agendas for the AGM include the endorsement of the company’s annual report, approval of the auditor’s report for the fiscal year 2079/80, along with Profit and Loss (PNL) statements, financial reports, and cash flow reports. Additionally, the AGM will address the appointment of auditors and the determination of their remuneration for the fiscal year 2080/81. Other items on the agenda involve the proposal of cash dividends (including tax) and bonus shares for existing shareholders, the issuance of an Initial Public Offering (IPO) to the general public, and the passage of resolutions related to necessary amendments to the company’s rules and regulations.
Furthermore, the AGM aims to authorize the Board of Directors to modify the Articles of Association and Regulations, allowing for adjustments or additions related to the issuance of primary shares in accordance with directives from regulatory bodies.
Established in 2000 by Purwanchal Lube Oil Pvt Ltd, Purwanchal Lube Oil (PLO) has become a prominent lubricant brand in the Nepali market. Over the past 23 years, the company has been manufacturing Engine Oil, Lubricants, Grease, and other petroleum products. PLO has successfully distributed its products through a network of more than 93 dealers and over 11,000 retailers across Nepal, offering a variety of imported lubricant brands.