United Modi Hydropower, Citizens Capital ink deal

KATHMANDU, DECEMBER 27: A Right Issue Management Agreement was signed today between United Modi Hydropower Limited and Citizens Capital Limited in a program held at Kamaladi, Kathmandu. The agreement was inked by Narendra Ballav Panth, Chairman of United Modi Hydropower
Limited and Sabir Bade Shrestha, CEO of Citizens Capital Limited.

As per the agreement, Citizens Capital Limited (a subsidiary of Citizens Bank International
Limited) will manage the Right Share Issue of United Modi Hydropower Limited for its shareholders in the near future.

United Modi Hydropower Limited has developed its 10MW project, “Lower Modi – 1
Hydropower” is located in the Parbat district. The project’s commercial operation started some 11 years back.