Kathmandu — Soltee Hotel Limited successfully concluded its 51st Annual General Meeting (AGM) on Sunday in Kathmandu. The meeting approved the formation of a new Board of Directors and appointed Dinesh Bahadur Bista as the company’s Executive Chairman.

A five-star deluxe hotel, Soltee Hotel Limited has been contributing to the development of Nepal’s tourism industry for more than six decades. The AGM unanimously approved the Board of Directors’ annual report for fiscal year 2021/22 (FY 2081/82), along with the audited financial statements and consolidated financial report.

The meeting also endorsed the proposal to distribute a cash dividend of 16.57 percent of the paid-up capital and issue bonus shares at the rate of 155 percent from the profit of the same fiscal year. In addition, the AGM appointed J.B. Rajbhandari & Devins, Chartered Accountants, Kathmandu, as the statutory auditor for fiscal year 2022/23 (FY 2082/83) and approved the firm’s remuneration.

A nine-member Board of Directors was elected from the AGM. Of the total members, five represent institutional shareholders, three represent general public shareholders, and one has been appointed as an independent director.

Representing Soltee Enterprises Private Limited, Dinesh Bahadur Bista, Ravi Bhakta Shrestha, Rajesh Kaji Shrestha, and Jaya Rajyalaxmi Shah were appointed as directors. Amritman Shrestha was appointed to the board representing Nepal Airlines Corporation.

From the public shareholders’ group, Prakash Bikram Khatri, Shashiraj Pandey, and Niranjan Kumar Tibrewala were elected as directors. Dr. Madhav Giri was appointed as the independent director.

With the formation of the new board and leadership structure, Soltee Hotel is expected to strengthen its governance and focus on long-term business growth amid the ongoing recovery of the tourism sector.