NEPSE seeks clarification from Bottlers Nepal, suspends share trading
The clarification request was issued after the company delayed informing NEPSE for nearly a month about a board decision impacting shareholders.
KATHMANDU: Nepal Stock Exchange (NEPSE) has demanded clarification from Bottlers Nepal Ltd. (Balaju) for failing to promptly disclose board decisions that could influence the stock price.
The clarification request was issued after the company delayed informing NEPSE for nearly a month about a board decision impacting shareholders.
Consequently, NEPSE has also suspended trading of Bottlers Nepal shares due to a breach of the Securities Listing Regulations, 2075.
According to Suresh Joshi, NEPSE’s Assistant Manager, Bottlers Nepal is required to explain why it did not disclose the decision on time. The company has three days to submit its clarification.
NEPSE’s notice highlighted that on Wednesday, Mangsir 5, Bottlers Nepal’s board decided not to distribute dividends for the fiscal year 2080/81. However, NEPSE was notified only on Poush 2, 2081.
As per Regulation 22(1) of the Securities Listing Regulations, 2075, any decision impacting stock prices must be reported to NEPSE on the same day or before trading begins the next day.
NEPSE stated that Bottlers Nepal violated this provision by failing to comply.
