Karachi, Kot Addu Power Plant informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on October 22, 2021 at Islamabad.
The agenda of the meeting will be confirming the minutes of Annual General Meeting held on October 02, 2021, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2021 together with the Directors and Auditors Reports thereon, to approve the final cash dividend of Rs. 3.50 per shares, that is 35% for the year ended June 30, 2021 as recommended by the Board of Directors, to appoint auditors for the year ending June 30, 2022 and fix their remuneration and to transact any other business with the permission of the chair.
Further, the closed period of the company is from October 15, 2021 to October 22, 2021 (both days inclusive).
Kot Addu Power Company Limited was incorporated in Pakistan on April 25, 1996 as a public listed company. The Principal activities of the Company are to own, operate and maintain-fuel fired power station and to sell the electricity produced to a single customer WAPDA under a Power Purchase Agreement (PPA).
Kot Addu Power Plant (the “Power Plant”) was built by the Pakistan Water and Power Development Authority (“WAPDA”) in five phases between 1985 and 1996 in District Muzaffargarh, Punjab, 90 K.M. north west of Multan on the left bank of the River Indus at a distance of 16 K.M. from Taunsa Barrage.
In February 2005, the Privatisation Commission (on behalf of WAPDA) sold another 18% of WAPDA shareholding in the Company to the General Public. On April 18, 2005 the Company was formally listed on the Pakistan Stock Exchange (formerly the Karachi Stock Exchange, the Lahore Stock Exchange and the Islamabad Stock Exchange).
The Company is now listed on Pakistan Stock Exchange limited and quoted shares of it that are 880,253,228. Their Earnings per shares of the company is 26.83 in 2020 which was 14.90 in 2019. The Profit after Taxation is 23,613,193,000 in 2020 which was 13,111,540,000 in 2019.