Category: Board Meetings

Karachi, ABL Asset Management Limited is delighted to announce that the interim cash dividend for the year ending June 13, 2023, has been electronically credited into the designated bank accounts of the shareholders of the company on June 14, 2023.

The interim cash dividend amounts to Rs. 0.0790 per share, equivalent to 0.7900% of the shareholders' holdings. ABL Asset Management remains committed to rewarding its shareholders and sharing the success of the company's performance.

By electronically crediting the dividend directly into the designated bank accounts, ABL Asset Management ensures a convenient and efficient process for the shareholders to receive their entitlements. This method eliminates the need for physical checks or manual transactions, providing shareholders with a seamless experience.

Karachi, Sunrays Textile Mills Limited has announced that its Board of Directors will convene a meeting on June 16, 2023, in Karachi. The primary purpose of the meeting is to deliberate upon various corporate actions of the Company, with the aim of furthering its strategic objectives.

In line with this announcement, the Company has also declared a "Closed Period" that will be in effect from June 14 to June 16, 2023. During this time frame, all Directors, the Chief Executive Officer (CEO), and other executives are strictly prohibited from engaging in any direct or indirect transactions involving the shares of the Company. This measure ensures fair and unbiased decision-making during the critical period leading up to the board meeting.

The declaration of the Closed Period aims to prevent any potential conflicts of interest or insider trading. By prohibiting the dealing of shares, the Company upholds its commitment to transparency and equity. This restriction applies to all individuals who hold a position of authority within the organization, guaranteeing a level playing field for all stakeholders.

Karachi, Gulistan Spinning Mills Limited has successfully transmitted its Annual Report for the fiscal year ended on June 30, 2021. The comprehensive report, detailing the company's performance and financial highlights, is now accessible on the official website of the organization.

The release of the annual report serves as a testament to Gulistan Spinning Mills Limited's commitment to maintaining open lines of communication with its stakeholders. Investors and shareholders can gain valuable insights into the company's performance, enabling them to make informed decisions about their investments and future engagements with the organization.

The report will also serve as a useful resource for industry analysts, researchers, and potential partners, allowing them to assess Gulistan Spinning Mills Limited's position in the market and its growth trajectory. Additionally, the annual report showcases the company's adherence to international accounting standards and corporate governance practices.

Gulistan Spinning Mills Limited invites all interested individuals and organizations to visit its official website to access the Annual Report for the fiscal year 2021-2022. With its commitment to transparency and accountability, the company aims to strengthen trust among its stakeholders and foster long-term sustainable growth in the textile industry.

Karachi, MCB-Arif Habib Savings and Investments Limited has announced that an Extraordinary General Meeting (EGM) will be convened in Karachi on July 07, 2023, signaling a significant development for the company. The primary agenda for this gathering will be the proposed change of the company's name.

In line with this decision, the company has also declared a "Close Period" from June 26, 2023, to July 07, 2023, encompassing both days. During this period, the Share Transfer Books of MCB-Arif Habib Savings and Investments Limited will be closed, temporarily suspending any transfers or changes in ownership.

Karachi, Ismail Industries Limited, a prominent company, has made important announcements following a meeting of its Board of Directors held on June 14, 2023, in Karachi.

The first decision taken by the Board was the passage of a resolution to not increase the authorized share capital of the company. This decision reverses the previous resolution that was made in a meeting held on May 26, 2023.

Additionally, the Board has decided to withdraw the agenda item and cancel the Extraordinary General Meeting that was originally scheduled to take place on June 16, 2023. The cancellation of the meeting indicates a change in the company's plans and priorities.

Furthermore, Ismail Industries Limited has communicated the cancellation of the previously announced book closure. This implies that the closure of the Share Transfer Books, which was previously communicated, is now void.

Karachi, TPL Properties Limited has announced that a board meeting will take place on June 21, 2023, in Karachi to deliberate and finalize the budget for the upcoming fiscal year, spanning from July 01, 2023, to June 30, 2024.

During this meeting, the Board of Directors will gather to assess and evaluate the financial aspects of the company's operations, aiming to allocate resources efficiently and plan for future growth and development. The budget discussion will encompass various facets, including revenue projections, expenditure plans, and strategic initiatives.

In accordance with regulatory requirements, TPL Properties Limited has declared a "Closed Period" from June 14, 2023, to June 21, 2023. Throughout this period, directors, the CEO, and executives are strictly prohibited from engaging in any form of trading involving the company's shares, whether directly or indirectly.

During the Closed Period, directors, the CEO, and executives are advised to refrain from any transactions involving TPL Properties Limited shares until the board meeting concludes and the necessary public disclosures are made.

Following the board meeting, TPL Properties Limited will make the necessary announcements regarding the approved budget, outlining the company's strategic direction and financial targets for the upcoming fiscal year.

Investors, analysts, and stakeholders eagerly anticipate the outcome of the meeting, as it will shed light on TPL Properties Limited's plans and objectives, and provide insights into the company's growth prospects in the real estate sector.

Karachi, In an effort to ensure transparent corporate governance practices, MCB-Arif Habib Savings and Investments Limited has announced that an Extraordinary General Meeting (EGM) will be held on July 07, 2023. The meeting will take place at the company's headquarters in Karachi, while also providing a video link facility for remote participation.

The primary agenda of the meeting will focus on the confirmation of the minutes from the previous EGM, which took place on February 06, 2023.

Karachi, Habib Rice Products Limited has announced that a meeting of the Board of Directors is scheduled to take place on June 15, 2023, in Karachi. The meeting's primary agenda will revolve around the discussion of the Budget for the Financial Year 2023-24 and its potential impact on the company.

In compliance with Clause 5.6.ld) of the PSX Regulations, the company has declared a "Closed Period" from June 14 to June 15, 2023. During this period, no director, CEO, or executive of Habib Rice Products Limited is permitted to engage in any direct or indirect transactions involving the company's shares.

Karachi, In a recent board meeting held on June 7, 2023, Shell Pakistan Limited announced the appointment of Mr. Zain Khurshid Hak as the Chairperson of the Board of Directors. The appointment comes into effect from June 14, 2023, and Mr. Hak will serve a three-year term in this prestigious position.

Shell Pakistan Limited expressed their delight in announcing this significant decision, which reflects the company's commitment to strong leadership and continued growth. With his extensive experience and expertise, Mr. Hak is expected to provide valuable guidance and strategic direction to the company in the years to come.

Mr. Zain Khurshid Hak brings a wealth of knowledge and a diverse skill set to his new role. His previous positions in the industry have allowed him to garner a deep understanding of the energy sector and its challenges. As the newly appointed Chairperson, he will play a crucial role in shaping the company's future endeavors and driving its success.

Shell Pakistan Limited, a leading energy company, is known for its commitment to operational excellence, innovation, and sustainability. With Mr. Hak's appointment, the company aims to leverage his leadership abilities and industry insights to further strengthen its position in the market.

The three-year term of Mr. Hak as the Chairperson of the Board of Directors is anticipated to bring stability and continuity to Shell Pakistan Limited's strategic decision-making process. This appointment signifies the company's focus on fostering a culture of transparency, accountability, and responsible governance.

As the newly appointed Chairperson, Mr. Hak is expected to work closely with the Board of Directors and the management team to drive growth, address emerging challenges, and explore new opportunities in the dynamic energy landscape of Pakistan.

Karachi, In a recent meeting held in Karachi, the Board of Directors of TPL Properties Limited made an important recommendation for the company's shareholders. The board has declared an interim cash dividend for the year ended 2023.06.10 at Rs.2 per share, equivalent to 20%. This announcement comes in addition to the interim dividend already paid at Rs.0 per share, which accounted for 0%.

Additionally, the board recommended the issuance of interim bonus shares. However, the specific details regarding the proportion and number of bonus shares to be issued were not disclosed in the announcement. This proposal will be an addition to the interim bonus shares already distributed at an undisclosed rate.

No other entitlements or corporate actions were reported by the board in their meeting.

Shareholders who are eligible to receive the declared entitlements must ensure that their names appear in the Register of Members on June 20, 2023. To facilitate the processing of the entitlements, the Share Transfer Books of TPL Properties Limited will be closed from June 21, 2023, to June 22, 2023, inclusive. Further information regarding any additional price-sensitive information was not provided in the announcement.

The declaration of an interim cash dividend and the possibility of bonus shares by TPL Properties Limited demonstrates the company's commitment to providing value to its shareholders.

Karachi, Shaheen Insurance Company Limited (SICL) has announced the rescheduling of its Extraordinary General Meeting (EOGM) in light of the impending threat posed by the Very Severe Cyclonic System (VSCS) Biparjoy. The meeting, originally scheduled for June 15, 2023, will now take place on June 22, 2023, in Karachi.

The decision to reschedule the EOGM comes in response to various government advisories, including high alerts issued by the Pakistan Meteorological Department, regarding the cyclonic system. Biparjoy is expected to make landfall partly within Pakistan's territorial jurisdiction, impacting the coastal belt, including the city of Karachi, on June 15, 2023.

Recognizing the extraordinary circumstances beyond their control and with the priority of safeguarding the well-being of shareholders, directors, and staff, Shaheen Insurance Company Limited has taken this proactive step to reschedule the EOGM.

All other conditions and provisions outlined in the Notice of EOGM dated May 25, 2023, and subsequent Notice dated June 07, 2023, under section 159(4) of the Companies Act, 2017, will remain unchanged. This includes the entitlement to attend the meeting, submission of proxies, dates of closure of share transfer books, E-Voting, submission of Ballot Paper, and the election of directors.

Karachi, Al-Abbas Sugar Mills Limited has made significant decisions during its Board of Directors meeting held on June 14, 2023. The company has decided to cancel the previously scheduled Extraordinary General Meeting and withdraw all agenda items. Additionally, the resolution to increase the share capital, which was earlier approved in a meeting on May 29, 2023, has been reversed.

The Board's decision to cancel the Extraordinary General Meeting, which was set to take place on June 21, 2023, at 11:30 a.m., comes as a surprise to stakeholders. All the proposed items on the agenda for this meeting have been withdrawn, leaving shareholders and investors awaiting further information on the reasons behind this sudden change.

Furthermore, the previously communicated book closure has been declared canceled, impacting the normal trading activities of the company's shares. This decision raises questions among market participants regarding the company's future plans and strategies.

Al-Abbas Sugar Mills Limited, a prominent player in the sugar industry, is expected to release an official statement elucidating the reasons behind these decisions. Market analysts and investors are closely monitoring the situation and its potential impact on the company's financials and stock performance.