Over three-fourths of the total 159 companies listed at SEBON (Security Board of Nepal) and transacted at Nepal Stock Exchange have violated the provision of submitting their year-end financial report within the stipulated time.
As per the existing provision, listed companies need to submit their financial report within three months of the completion of fiscal year.
According a report of SEBON, only 37 companies of the 159 listed companies submitted their financial report within the stipulated time.
Nonetheless, reports from 104 companies were submitted after the stipulated duration. Eighteen listed companies are yet to submit their reports.
Of the 141 companies that presented their financial details to SEBON, 128 companies have reported of earning profit in the last fiscal year. Fifteen among them have announced cash dividend, 35 have announced bonus shares and 18 companies have offered both cash dividend and bonus shares to their shareholders for 2008/09.
SEBON is also said to be preparing a company profile of those companies that have already submitted their financial reports to SEBON.
Eight companies registered promoters´ shares worth Rs 691.74 million and five companies registered bonus shares worth Rs 563.5 million by mid-November 2009.
In the last fiscal year, 12 companies issued ordinary shares worth Rs 1.81 billion, 50 companies issued rights shares worth Rs 14 .26 billion and two companies issued debentures worth Rs 750 million, according to the report. A total of 64 companies had announced public issues during the period. nepalnews.com