Karachi, Engro Polymer and Chemicals Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on April 16, 2020 at Karachi.
The agenda of the meeting will to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended December 31, 2019 with the Directors and Auditors Reports thereon, to declare, as recommended by the Directors, the payment of a final dividend at the rate of PKR 0.20 per share (2%) for the year ended December 31, 2019, to appoint Auditors for the year 2020 and fix their remuneration and to elect eight Directors in accordance with the Companies Act, 2017.
Further, the closed period of the company is from April 10, 2020 to April 16, 2020 (both days inclusive).
The company was set up in 1997 by the name of Engro Asahi Polymer and Chemical Ltd. It was a joint venture between Engro Chemical, Asahi Glass Company and Mitsubishi Corporation to set up a 100,000 ton capacity PVC plant at Port Qasim. The plant came into commercial operation in 1999.
In 2006, Asahi Glass divested from the business and Engro Chemical acquired its shareholding. The name of the company was changed to Engro Polymer & Chemicals Limited. The registered office of the company is located in Karachi.
Other than producing caustic soda, sodium hypochlorite, EDC and VCM, Engro Polymer & Chemicals Limited is also the manufacturer of PVC resin in Pakistan.
The symbol “EPCL” is being used by the stock exchange for the shares of Engro Polymer and Chemicals Limited.