Thamel Plaza Hotel Announces SGM on IPO and Right Shares on 19th Jestha, 2081, the key points are as follows:
- Special General Meeting (SGM): Scheduled for 19th Jestha, 2081, at 10:00 AM.
- Agenda: Discuss IPO issuance and the right shares for existing shareholders.
- Credit Ratings: CARE Ratings Nepal Limited placed long-term bank facilities at ‘CARE-NP BB’ and short-term bank facilities at ‘CARE-NP A4’ with negative implications.
- Incorporation and Development: Incorporated on January 05, 2012, with a premium hotel in Thamel, Kathmandu.
- Hotel Details: Operates under the brand name ‘Ramada Encore Kathmandu Thamel’ with 90 rooms.
- Shareholders: Promoted by 37 shareholders, including two institutional promoters, with a paid-up equity of Rs. 271 Mn as of July 16, 2019.
- Book Closure Date: Jestha 15, allowing shareholders maintained before this date to attend the SGM.
Thamel Plaza Hotel Announces SGM on IPO and Right Shares
Special General Meeting Announcement
Thamel Plaza Hotel & Suites Limited has announced its Special General Meeting (SGM) to be held on 19th Jestha, 2081. The meeting will occur at the Thamel Plaza Hotel & Suites Limited, located in Thamel, Kathmandu, and start at 10:00 AM.
One of the primary agendas for this meeting is the proposal to issue an Initial Public Offering (IPO) to the general public. Additionally, the discussion will cover the issuance of right shares to existing shareholders.
Financial Ratings and Implications
CARE Ratings Nepal Limited (CRNL) has recently placed the ratings of Thamel Plaza Hotel & Suites Private Limited (TPHS) under ‘credit watch with negative implications.’ Specifically, the long-term bank facilities have been assigned a ‘CARE-NP BB’ rating, while the short-term bank facilities have been given a ‘CARE-NP A4’ rating. This move indicates potential concerns about the company’s creditworthiness.
Company Background and Development
Thamel Plaza Hotel & Suites Limited was incorporated on January 05, 2012. The company has developed a premium hotel property in the vibrant area of Thamel, Kathmandu. This hotel operates under the well-known brand ‘Ramada Encore Kathmandu Thamel and has completed its construction with 90 room keys.
Shareholder Information
The company is backed by 37 shareholders, including two institutional promoters. As of July 16, 2019, the total paid-up equity infused by these shareholders amounts to Rs. 271 million.
Important Dates
The book closure date for this SGM is set for Jestha 15. This means that shareholders who are listed in the company’s records before this date will be eligible to attend and participate in the meeting.
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