Share trading of Tara Gaun Regency Hotel halted

KATHMANDU, DECEMBER 4: The Nepal Stock Exchange (Nepse) has decided to halt the share trading of Tara Gaun Regency Hotel in the capital market from today. Since the hotel refused to inform them about its proposed dividends (to the Nepse in a timely way), the Nepse did so in line with Sub-Rule 22 (1) of the Securities Listing and Trading Rules 2018.

In its notice issued on Monday, the Nepse also directed the company to furnish its clarification regarding the delay in announcing dividends within three working days.

The board meeting of the hotel held on last Saturday approved 15 cash dividends to its shareholders and informed to the Nepse at 5:15 PM on the day. According to the Nepse, the dissemination of the very information was made late since the said rule makes it mandatory for a Nepse-listed company like Tara Gaun Regency Hotel to notify about the proposed dividends within two days of the announcement.