Kathmandu. Shivam Holdings Limited, a subsidiary of Shivam Cement Limited, has concluded its annual general meeting for the financial year 2082/83. The meeting held in Kathmandu under the chairmanship of the company’s chairman Shiva Ratan Sharda unanimously passed various proposals.

The AGM has approved a proposal of distributing Rs 11.60 crore cash dividend to the existing shareholders.

Similarly, a new board of directors has been formed for the next four years. The committee will be chaired by Shivaratan Sharda with Sushil Gupta and Nandini Maru as board members and chartered accountant Pradip Raj Upadhyay as independent directors.

The meeting also approved the financial statement for the fiscal year 2082/83 and approved the proposal to appoint an auditor for the fiscal year 2083/84.

Similarly, the company will proceed with the IPO issuance process for the general public. The meeting has approved the proposal to issue 20 percent of the issued capital of the company to the general public i. e. 1.16 crore units of the issued capital of Rs 5.80 billion.

The meeting also decided to revise, revise and update the prospectus sheet submitted to the Securities Board of Nepal (SEBON) for the IPO issuance along with the required documents.