Kathmandu,

The Nepal Stock Exchange (NEPSE) has initiated an inquiry into Taragaon Regency Hotels Limited, seeking clarification for the company’s failure to provide timely information about its dividend announcement.

The move comes in response to Taragaon’s board of directors meeting held on December 2, during which they declared a total dividend of 15 percent for shareholders. This dividend comprises 11 percent in cash and 4 percent in bonus shares of the paid-up capital.

Regulation 22 (1) of the Securities Listing Regulations, 2075, stipulates that information regarding dividend declarations must be submitted to NEPSE on the same day or the next day before the opening of trading. However, Taragaon Regency Hotels Limited submitted the required information to NEPSE on December 3 at 5:15 pm, missing the regulatory deadline.

In light of this delay, NEPSE has formally requested Taragaon Regency Hotels Limited to provide a detailed explanation within three days. The stock exchange is seeking clarification on why the decision regarding the dividend announcement was not communicated within the stipulated 24-hour timeframe.