Category: Board Meetings

Karachi, The Board of Directors meeting of International Industries Limited, a prominent player in the industrial sector, is currently in progress. The meeting, convened to discuss various strategic matters, including the company's annual financial results, is being closely watched by stakeholders and market enthusiasts.

During this significant session, the Board is expected to deliberate on the annual financial performance, review key operational insights, and assess the company's strategic direction for the upcoming period. The deliberations will cover a range of topics critical to the company's growth trajectory and market standing.

In adherence to regulations and guidelines set by the regulatory authorities, International Industries Limited plans to promptly communicate any material or price-sensitive information arising from the Board meeting to the Pakistan Stock Exchange Limited (PSX). This disclosure, a cornerstone of transparency in corporate operations, underscores the company's commitment to keeping the investing community well-informed.

As per the allowed timeline, the company has earmarked tomorrow morning for sharing the outcomes of the meeting with the PSX. This update will provide stakeholders and investors with a comprehensive understanding of the company's financial performance, strategic decisions, and any material developments that transpired during the meeting.

The timely disclosure of information is instrumental in fostering investor confidence and enabling well-informed investment decisions. Market participants and stakeholders alike are anticipated to keenly await the communication of these updates, as they hold valuable insights into International Industries' financial health, operational strategies, and future plans.

The unfolding events at the ongoing Board meeting exemplify International Industries Limited's dedication to effective corporate governance, transparent communication, and responsible disclosure practices. These principles contribute to maintaining the company's standing in the market and its reputation among investors and industry peers.

Karachi, D.G. Khan Cement Company Limited has announced that its upcoming Board of Directors meeting is set to take place on August 31, 2023, in Lahore. The primary agenda of this important gathering is to deliberate upon the company's Annual Audited Financial Statements for the fiscal year concluding on June 30, 2023.

The Board's discussion during this meeting will encompass a comprehensive review of the company's financial performance, operational highlights, and strategic direction over the past year. This annual overview provides stakeholders and investors with crucial insights into the company's financial health and performance.

In accordance with regulatory requirements and to ensure the integrity of the financial reporting process, D.G. Khan Cement has declared a "Closed Period" from August 24, 2023, to August 31, 2023. This stipulated period will persist until the company's financial results are disseminated to the Pakistan Stock Exchange Limited (PSX). During the Closed Period, no Director, CEO, or Executive of the company is permitted to engage in any form of trading involving the company's shares.

The implementation of the Closed Period underscores the company's commitment to upholding the principles of transparency, fair disclosure, and effective corporate governance. By preventing key personnel from trading in the company's shares during this crucial phase, D.G. Khan Cement aims to prevent any undue influence on the market and ensure that all stakeholders receive accurate and comprehensive financial information.

The impending Board meeting and the subsequent communication of the financial results to the PSX are pivotal events for D.G. Khan Cement and its stakeholders. These disclosures serve as a valuable resource for investors, analysts, and the wider business community in assessing the company's financial strength, operational strategies, and overall performance in the fiscal year.

The forthcoming meeting and the associated regulatory compliance reflect D.G. Khan Cement Company Limited's commitment to maintaining a high standard of corporate governance and providing shareholders with timely, accurate, and transparent financial information.

Karachi, Century Paper and Board Mills Limited has announced a rescheduling of its 40th Annual General Meeting (AGM), which was initially slated for September 25, 2023. The company has communicated that due to unforeseen circumstances, the AGM will now take place on October 17, 2023.

In light of this change, the dates for the closure of the Share Transfer Books of the company have also been adjusted. The revised dates for the book closure are set as October 10, 2023, to October 17, 2023, encompassing both these days.

The Share Transfer Books are typically closed ahead of an AGM to determine the list of shareholders eligible to attend the meeting. In this case, transfers received by the Shares Registrar of the company, M/s. FAMCO Associates (Private) Limited, located at 8-F, Near Hotel Faran, Nursery, Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi, until the close of business on October 09, 2023, will be considered in time for the purpose of attendance at the rescheduled Annual General Meeting.

Rescheduling an AGM is a significant administrative change that can impact the timelines and logistics associated with the meeting. It's a decision often made after careful consideration of various factors that could affect the shareholders' ability to attend and participate effectively.

While the company did not disclose the specific reasons for the rescheduling, such changes are not uncommon and can occur due to factors ranging from regulatory requirements to logistical challenges or unforeseen events.

As Century Paper and Board Mills Limited readjusts its plans to accommodate the new AGM date, shareholders and stakeholders will likely await further communication on the agenda and proceedings for the rescheduled meeting. The company's decision to revise the AGM date and Share Transfer Book closure dates underscores the importance of flexibility and effective communication in the management of corporate affairs.

Karachi, Gulistan Spinning Mills Limited has officially issued a notice regarding its upcoming Annual General Meeting (AGM) for the financial year ending on June 30, 2022. The meeting is scheduled to take place in Karachi on September 13, 2023, and will address key agenda items pivotal to the company's progress and governance.

The AGM will convene to deliberate on the following matters:

1. Confirmation of the minutes from the previous AGM.

2. Review and adoption of the audited financial statements for the financial year ended June 30, 2022, along with the accompanying reports from Directors and Auditors.

3. Appointment of auditors for the next financial year, 2022-2023, including the determination of their remuneration. The current auditors, M/s Malik Haroon Shahid Safder & Co, Chartered Accountants, have expressed their willingness for reappointment.

4. Discussion of any other business with the approval of the Chairman.

The company has also outlined important notes regarding the AGM:

1. The share transfer books of the company will be closed from September 6, 2023, to September 13, 2023, inclusive. No share transfers will be accepted for registration during this period.

2. Members eligible to attend and vote at the AGM are allowed to appoint proxies in writing. Proxy forms must be submitted to the Registered Office of the Company no later than 48 hours prior to the meeting.

3. CDC (Central Depository Company) Account Holders are requested to provide identification documentation (CNIC along with participant ID and account number) for streamlined verification during the meeting. For corporate entities, certified Board of Directors resolutions or valid power of attorney documents must be produced.

4. Members are urged to promptly communicate any changes in their contact details to the company's Share Registrar, M/s Hameed Majeed Associates (Pvt.) Limited, located in Karachi Chamber, Hasrat Mohani Road, Karachi.

As Gulistan Spinning Mills Limited prepares for its AGM, shareholders and stakeholders anticipate insights into the company's performance, strategy, and future plans. The AGM serves as an important platform for communication between the company and its investors, fostering transparency and accountability in its operations.

Karachi, Pakistan State Oil Company Limited, a major player in the energy sector, has announced its financial results for the fiscal year ending June 30, 2023. The company's Board of Management convened on August 23, 2023, in Karachi, where significant recommendations were approved.

Cash Dividend:

The company has declared a final cash dividend for the fiscal year 2022-2023 at an impressive rate of Rs. 7.50 per share, which translates to 75% of the share's value. This payout reflects the company's commitment to delivering returns to its shareholders.

Financial Results:

The audited unconsolidated and consolidated statements of profit or loss for the year ending June 30, 2023, are provided as Annexure-A and Annexure-B, respectively. These financial results showcase the company's performance and its ability to navigate the complexities of the energy sector.

Annual General Meeting:

The company has scheduled its Annual General Meeting (AGM) for October 26, 2023, in Karachi. This meeting serves as an important platform for shareholders to engage with the company's leadership, discuss its financial performance, and make decisions that impact the company's future direction.

Shareholder Entitlement and Share Transfer Book Closure:

Shareholders eligible for the announced dividend are those whose names are listed in the Register of Members on October 19, 2023. To facilitate the dividend distribution and AGM preparations, the share transfer books of the company will remain closed from October 19, 2023, to October 26, 2023, encompassing both days.

The impressive 75% final cash dividend underscores the company's financial strength and commitment to rewarding its shareholders. The financial results provide transparency into the company's operations and performance in the fiscal year. As Pakistan State Oil Company Limited moves forward, the upcoming Annual General Meeting will play a pivotal role in shaping the company's future strategies and initiatives. This announcement is expected to resonate strongly with the investment community, highlighting the company's financial stability, transparent practices, and investor-friendly approach.

Karachi, Saudi Pak Leasing Company Limited (SPLC) has successfully concluded a meeting of its Board of Directors on August 22, 2023. The meeting took place as planned, and key decisions were likely discussed and made during this session.

While specific details of the meeting's agenda and outcomes are not provided in the announcement, these Board meetings often play a pivotal role in shaping the strategic direction of the company. Matters related to financial performance, operational updates, future initiatives, and other important corporate decisions are typically deliberated upon in such gatherings.

SPLC's commitment to adhering to its schedule for the Board meeting showcases its dedication to transparent and efficient corporate governance practices. The conclusions and decisions arising from this meeting are expected to have a potential impact on the company's trajectory moving forward.

Karachi, Pak Elektron Limited (PEL) has announced that its Board of Directors is scheduled to convene a meeting on August 29, 2023, in Lahore. The primary agenda of this meeting is to review and discuss the Un-Audited Quarterly Accounts for the 2nd Quarter (Half Year) that concluded on June 30, 2023.

In line with regulatory requirements and to ensure fairness and transparency in the market, PEL has declared a "Closed Period" from August 23, 2023, to August 29, 2023. This period covers both days inclusive and falls under the purview of regulation 5.6.1(d) of the Pakistan Stock Exchange (PSX) Regulations. During this closed period, company insiders including Directors, CEO, and Executives are prohibited from engaging in any direct or indirect trading activities involving the shares of the company.

The announcement highlights PEL's commitment to complying with regulatory norms and ensuring a level playing field for all investors. The Board meeting, set to take place later this month, is anticipated to provide valuable insights into the company's financial performance during the specified quarter. Investors and market participants are expected to closely watch for updates emerging from this meeting to gauge PEL's financial health and strategic direction.

Karachi, The Board of Directors of IGI Life Insurance Limited convened on August 23, 2023, via video-link, to discuss and recommend a series of corporate actions for the company's shareholders.

Following a comprehensive deliberation, the Board outlined the following recommendations:

1. Cash Dividend: Nil

2. Bonus Shares: Nil

3. Right Shares: Nil

4. Any Other Entitlement or Corporate Action: Nil

5. Any Other Price-Sensitive Information: Nil

The recommendations align with the company's strategic vision and ongoing commitment to enhance shareholder value while upholding sound financial practices. By retaining the company's earnings, IGI Life Insurance seeks to further strengthen its financial foundation and foster sustainable growth.

The quarter and half-year financial results for the period ending June 30, 2023, were also discussed during the meeting. Detailed financial figures, as presented in the Condensed Interim Profit and Loss Account (Un-audited), were reviewed and considered by the Board.

IGI Life Insurance remains steadfast in its dedication to transparency, integrity, and responsible corporate governance. The company's commitment to shareholders' interests is evident through these thoughtful recommendations, which underscore its ongoing efforts to navigate the evolving market landscape.

Shareholders and investors eagerly anticipate the subsequent steps based on the Board's recommendations, which will be communicated in accordance with regulatory requirements and best practices.

For more information about the company's financial performance and the Board's recommendations, stakeholders are encouraged to visit IGI Life Insurance's official website or get in touch with the company's investor relations team.

The IGI Life Insurance Limited headquarters can be reached at 7th Floor, The Forum, Suite No. 701-713, G-20, Block 9, Khayaban-e-Jami, Clifton, Karachi-75600, Pakistan. Contact details include UAN: (+92-21) 111-111-711, Telephone: (+92-21) 35360040, Fax: (+92-21) 35290042, Email: vitality@igl.com.pk, and Website: www.igllifevitality.com.pk.

The company encourages shareholders and stakeholders to stay informed and actively participate in the company's journey towards sustainable growth and value creation.

Karachi, In a recent development, the Board of Directors of JS Bank Limited convened a significant meeting to discuss the financial performance of the institution. The meeting, held at the Bank's headquarters in Karachi, concluded with the approval of the Financial Statements for the second quarter, ending June 30, 2023.

The approved financial results of the Bank reveal a promising picture of its performance during the second quarter. The figures indicate positive growth and a steady financial trajectory. Encouragingly, the Bank's Net Markup/Interest Income witnessed a significant rise, contributing to a growth in total income.

The Quarter Ended and Half Year Ended data in the Unconsolidated Profit and Loss Account (Un-audited) showcases key financial metrics, including mark-up/return/interest earned, interest expenses, non-mark-up/interest income, and more. The Bank's focus on efficient operations is evident in the decline of non-mark-up/interest expenses, contributing to enhanced profitability.

The Bank's commitment to transparency and investor communication is further demonstrated through the announcement that the Quarterly Report for the period ending June 30, 2023, will be made available through the Pakistan Unified Corporate Action Reporting System (PUCARS). This move emphasizes the Bank's dedication to keeping stakeholders informed about its financial health and strategic decisions.

The approval of these financial statements signals a positive step forward for JS Bank Limited and reinforces the Bank's commitment to sound financial management and responsible governance practices. The Bank's performance, as depicted in the financial results, is expected to instill confidence in investors and stakeholders, showcasing a resilient and well-positioned institution within Pakistan's dynamic banking landscape.

Lahore, Nimir Resins Limited, a prominent chemical manufacturing company, has convened a crucial meeting of its Board of Directors today to deliberate on matters related to corporate restructuring. The meeting is currently underway at the company's headquarters in Lahore.

The Board of Directors is gathered to discuss and consider potential corporate restructuring strategies that could shape the company's future direction. Nimir Resins Limited has a history of innovative solutions and a strong market presence, and the Board's deliberations on corporate restructuring underscore the company's commitment to adapting and enhancing its operations in response to dynamic business landscapes.

Corporate restructuring is a strategic process that companies often undertake to optimize their organizational structure, streamline operations, and position themselves for sustained growth and success in evolving markets. Nimir Resins Limited's decision to convene this meeting reflects its proactive approach to remain agile and resilient in the face of industry changes.

The outcome of the Board meeting could have significant implications for the company's operations, expansion plans, and strategic initiatives. Nimir Resins Limited, known for its dedication to quality and innovation, is expected to make well-informed decisions that align with its vision and business objectives.

While specific details of the corporate restructuring discussions remain confidential until further announcement, the company's commitment to enhancing shareholder value and maintaining stakeholder interests remains paramount.

The meeting of the Board of Directors underscores Nimir Resins Limited's commitment to transparency and effective corporate governance. As the discussions continue, the company aims to emerge from this process with a clear roadmap for the future that optimizes its resources, operations, and strategic direction.

Nimir Resins Limited has positioned itself as a leader in the chemical manufacturing industry, renowned for its diverse portfolio of products and innovative solutions. The ongoing Board meeting on corporate restructuring demonstrates the company's continuous efforts to adapt and thrive in a dynamic business environment.

Further updates on the outcomes of the Board meeting and the company's corporate restructuring strategies are anticipated to be shared in due course through official channels. Interested stakeholders, investors, and industry observers will be keen to understand how Nimir Resins Limited's strategic decisions will contribute to its future growth and market competitiveness.

Karachi, Saif Power Limited has officially announced its intent to convene a Board of Directors meeting on August 29, 2023, at Islamabad. The central agenda of this meeting is to scrutinize the company's half-yearly accounts for the period concluding on June 30, 2023. This review aims to ascertain the eligibility for any entitlement that may arise from the deliberations.

In alignment with Clause 5.6.1(d) of the PSX Regulations, Saif Power Limited has instituted a "Closed Period" spanning from August 22, 2023, to August 29, 2023. This particular period serves as a regulatory compliance measure, imposing restrictions on Directors, CEOs, and Executives from engaging in any form of share transactions pertaining to the company.

The upcoming Board meeting holds significance as it affords stakeholders and investors a deeper understanding of Saif Power Limited's financial trajectory and performance during the first half of the year. By evaluating the company's financial data and operational developments, stakeholders can glean insights into the company's strategic direction and market positioning.

Simultaneously, the enforcement of the Closed Period underscores Saif Power Limited's commitment to transparency, fairness, and equity. By temporarily halting share dealings among key personnel, the company upholds ethical standards and minimizes potential conflicts of interest during critical decision-making periods.

The outcome of the Board meeting is poised to unveil insights into Saif Power Limited's financial stability, operational efficiency, and its strategic approach to harnessing market opportunities. Through adherence to regulatory norms and the institution of a Closed Period, the company underscores its dedication to responsible corporate governance and equitable practices, ultimately aligning its actions with the interests of stakeholders.

Karachi, Habib Insurance Company Limited has scheduled a Board of Directors meeting on August 29, 2023, at the company's Corporate Office. The primary agenda of the meeting is to discuss and consider the half-yearly accounts for the period ending June 30, 2023. The meeting aims to deliberate on potential entitlements and financial results for the specified period.

The company has also declared a "Closed Period" in accordance with Clause 5.6.4 of PSX Regulations, effective from August 22, 2023, to August 29, 2023 (both days inclusive). During this period, no Director, CEO, or Executive of the company will be permitted to engage in any direct or indirect dealings involving the shares of the company.

This announcement reflects Habib Insurance's commitment to regulatory compliance and transparency in its financial reporting. The upcoming Board meeting and the subsequent disclosure of the half-yearly accounts signify the company's dedication to maintaining a strong financial foundation and providing accurate information to its stakeholders.