Category: Board Meetings

Karachi, Mirpurkhas Sugar Mills Limited has convened a pivotal meeting of its Board of Directors on September 27, 2023, in Karachi. The board meeting is currently in progress and has been convened to address various matters that do not pertain to financial results.

The meeting reflects the company's dedication to effective corporate governance and decision-making, covering a range of non-financial issues that are of significance to the organization. Shareholders and stakeholders will be awaiting updates on the outcomes and decisions made during this important board meeting as they relate to the company's future operations and strategic initiatives.

Karachi, First Tri-Star Modaraba has announced that a meeting of its Board of Directors is scheduled to take place on October 3, 2023, in Karachi. The primary agenda of this meeting is to deliberate on the Annual Accounts for the period ending on June 30, 2023, and to make any declarations regarding entitlements to the shareholders.

In accordance with the regulations of the Pakistan Stock Exchange (PSX), the company has officially declared a "Closed Period" that extends from September 26, 2023, to October 3, 2023. During this period, as mandated by Clause 5.6.l(d) of PSX Regulations, no Director, CEO, or Executive of the company shall engage in any direct or indirect trading of the company's shares in any manner.

This Closed Period is implemented to ensure the integrity of the financial reporting process and prevent any potential insider trading activities. During this time, individuals in key positions within the company are restricted from buying or selling shares to maintain transparency and fairness in the market.

The outcome of the Board meeting and any declarations regarding entitlements will be communicated to shareholders and the public following the conclusion of the meeting.

Karachi, The Board of Directors of Aisha Steel Mills Limited convened in Karachi on September 25, 2023, and made a significant decision to propel the company and its group toward enhanced financial and tax efficiencies. During this pivotal meeting, the board authorized the management to actively participate in a group-wide initiative aimed at evaluating and proposing terms for a potential reorganization of the group's companies.

The primary objective of this initiative is to assess various workable options that will bolster the balance sheets of the group's companies, all while optimizing financial and tax structures. The outcome of this evaluation will be a set of comprehensive recommendations that will be presented to the Board of Directors for their careful consideration and approval.

This strategic move underscores Aisha Steel Mills Limited's commitment to fostering financial health and efficiency within the broader group. The proposed reorganization will not only strengthen the financial positions of individual companies within the group but also enhance tax efficiencies, ultimately benefiting shareholders and stakeholders.

The Board's decision reflects their confidence in the management's ability to navigate complex financial and tax considerations, leveraging their expertise to chart a course that will secure the group's financial future. This move is expected to have far-reaching implications for the group's performance and competitiveness in the market.

As Aisha Steel Mills Limited and its affiliated companies embark on this journey of reorganization, shareholders and the investment community will be keenly observing the developments, anticipating positive outcomes that will position the group for long-term sustainability and growth. Further details regarding the proposed reorganization will be unveiled as the evaluation progresses, and recommendations are formulated for board approval.

Karachi, Sui Northern Gas Pipelines Limited (SNGPL) has formally submitted a request to the Securities & Exchange Commission of Pakistan (SECP) seeking an extension of time for holding their Annual General Meeting/Annual Review Meeting for the fiscal year ending on June 30, 2023. The company is seeking an extension of up to 30 days, pushing the meeting date to November 27, 2023.

This application comes as a result of SNGPL's commitment to ensuring a comprehensive and transparent review process for the fiscal year ending in June 2023. The company is keen on providing shareholders with a detailed and well-prepared overview of its financial performance, strategic initiatives, and future plans.

The extension request is in accordance with regulatory guidelines and requirements, allowing companies to seek additional time when necessary to prepare and present their annual reports and financial statements. SNGPL remains dedicated to upholding the highest standards of corporate governance and compliance with regulatory obligations.

Sui Northern Gas Pipelines Limited has a strong presence in the energy sector of Pakistan, and the extension request reflects its commitment to delivering accurate and comprehensive information to its shareholders. The SECP will review the request, and any decision regarding the extension will be made in accordance with established regulatory procedures. Shareholders and stakeholders will be updated on the outcome of this request in due course.

Karachi, In a significant corporate development, Unilever Pakistan Food Limited has announced that its Board of Directors is scheduled to convene a crucial meeting on October 24, 2023, in Karachi. The primary agenda of this meeting will be the review and consideration of the Quarterly Accounts for the period ending September 30, 2023, with a focus on potential entitlement declarations.

To ensure transparency and adherence to regulatory standards, the company has also declared a Closed Period, effective from September 28, 2023, to October 25, 2023. During this period, insiders, including directors, officers, and employees, will be prohibited from trading Unilever Pakistan Food Limited's shares, as mandated by relevant securities regulations.

The Quarterly Accounts review holds substantial importance for stakeholders, as it provides insights into the company's financial performance over the third quarter of 2023 and hints at potential dividend or bonus issues. The Unilever Pakistan Food Limited Board of Directors is expected to deliberate thoroughly on these matters to make informed decisions in the best interests of shareholders.

This upcoming board meeting signifies the company's commitment to responsible governance and transparency in its financial reporting processes. Unilever Pakistan Food Limited remains dedicated to providing value to its shareholders and maintaining the highest standards of corporate integrity.

Investors and market observers eagerly await the outcomes of the Board of Directors' meeting, as it may have far-reaching implications for the company's financial future and stock performance.

Karachi, Ghandhara Industries Limited has officially announced that a crucial meeting of its Board of Directors is scheduled to be held on October 3, 2023, via video conferencing. The primary purpose of this meeting is to review and consider the annual accounts for the financial year ending on June 30, 2023.

In adherence to the regulations stipulated by the Pakistan Stock Exchange (PSX), the company has duly declared a "Closed Period" spanning from September 26, 2023, to October 3, 2023. This action is taken in accordance with Clause 5.6.4 of PSX Regulations. During this "Closed Period," it is strictly prohibited for any Director, CEO, or Executive of the company to engage, whether directly or indirectly, in any transactions involving the shares of the company.

The implementation of a Closed Period is a crucial measure to uphold the integrity of the financial reporting process and to prevent any potential instances of insider trading. This regulation ensures that during this specified period, key individuals within the company do not participate in any trading activities related to the company's shares, thus ensuring fairness and transparency in the market.

Following the conclusion of the Board meeting, the outcomes of the deliberations and any related decisions will be communicated to the shareholders and the public.

Karachi, National Refinery Limited (NRL) has officially announced its Sixtieth (60th) Annual General Meeting (AGM), set to take place on Monday, October 23, 2023, at 1400 hours in Karachi, with electronic participation options available. The meeting will address key financial matters and operational changes for the company.

Ordinary Business:

1. Review of Audited Financial Statements: NRL shareholders will deliberate upon and potentially approve the Audited Financial Statements for the fiscal year ending June 30, 2023. These statements will include reports from the Board of Directors and the company's auditors.

2. Appointment of Auditors: Shareholders will have the opportunity to appoint auditors for the financial year ending June 30, 2024, and set their remuneration.

Special Business:

3. Digital Circulation of Annual Report: NRL will seek approval to distribute its Annual Report, which comprises the Annual Audited Financial Statements, Auditor's Report, Directors' Report, Chairman's Review, and other relevant documents, to its members using QR-enabled codes and web links. This move is in accordance with S.R.O. 389(1)/2023 issued by the Securities and Exchange Commission of Pakistan. Furthermore, the resolution will discontinue the practice of circulating the annual report through CD/DVD/USB formats.

4. Any Other Business: The AGM may address any additional business items brought forward with the Chairman's permission.

NRL invites its shareholders to actively participate in the AGM, either in person in Karachi or electronically. The company's proactive approach to digital distribution underscores its commitment to modernizing its corporate communications and embracing the latest technological advancements in line with regulatory requirements.

The AGM promises to be a significant event in NRL's corporate calendar, providing stakeholders with insight into the company's financial performance, strategic direction, and commitment to transparency.

For more information and to access the full AGM notice, NRL shareholders are encouraged to refer to the official channels provided by the company.

Stay tuned for updates on NRL's 60th Annual General Meeting as it approaches on October 23, 2023.

Karachi, The Board of Directors of Thatta Cement Company Limited convened today at 3:15 PM in Karachi to deliberate upon critical matters, chiefly the audited accounts for the fiscal year ending June 30, 2023.

The meeting is currently in progress, as the board members scrutinize financial reports and discuss various agenda items essential to the company's future direction and performance. Stay tuned for updates on the outcome of this pivotal board meeting.

Karachi, Al-Abid Silk Mills Limited has announced the impending convening of a significant meeting of its Board of Directors. This crucial meeting is scheduled to take place on October 3, 2023, at the company's Registered Office in Karachi. The agenda for this gathering encompasses a range of pivotal business matters that will be deliberated upon and decided by the board.

The salient points on the meeting's agenda include:

1. Confirmation of the Minutes: The board will commence by confirming the minutes of the last Board of Directors meeting.

2. Approval of Annual Financial Statements: The draft annual audited financial statements for the fiscal year ending on June 30, 2023, will be considered for approval. The board will also review the accompanying reports by both the Auditors and Directors. Additionally, the Chief Executive and Director of the Company will be authorized to sign the financial statements.

3. Corporate Governance Compliance: The meeting will focus on the draft Statement of Compliance with the Code of Corporate Governance. This will also involve reviewing the report by the Chairman and the Auditors' Review Report to the Members regarding the Statement of Compliance with the Best Practices of the Code of Corporate Governance in the context of the financial statements for the year concluding on June 30, 2023.

4. Asset Disposal: The board will approve the disposal of assets that occurred during the year.

5. Statutory Auditors Appointment: Deliberation and approval of the appointment of statutory auditors for the fiscal year ending on June 30, 2024, along with discussions regarding their remuneration.

6. Dividend Discussion: The meeting will involve discussions on the dividend for the fiscal year ending on June 30, 2023.

7. AGM Arrangements: The board will consider and determine the date, time, and location for the forthcoming Annual General Meeting (AGM) of the Shareholders of the Company. This will also entail finalizing the date for the closure of the Share Transfer Book in preparation for the AGM.

8. Any Other Business: The meeting will have provisions for discussing any other matters that may be presented with the permission of the Chair.

This forthcoming Board of Directors meeting holds substantial importance for Al-Abid Silk Mills Limited as it addresses critical financial and governance aspects, culminating in decisions that will shape the company's future course of action.

Karachi, The Board of Directors of Ghani Value Glass Limited has announced that they will be holding a crucial meeting on October 3, 2023, at 12:30 PM in Lahore. The primary agenda for this meeting is to deliberate upon the Annual Accounts for the financial period that concluded on June 30, 2023, and to determine whether any entitlement should be declared to the company's stakeholders.

In accordance with corporate regulations and practices, Ghani Value Glass Limited has declared a Closed Period from September 27, 2023, to October 3, 2023. During this period, company insiders, including directors, executives, and employees, are prohibited from trading the company's shares to ensure the integrity and fairness of the decision-making process surrounding the Annual Accounts and entitlement declaration.

The Board's decision regarding entitlement, if any, will have significant implications for the company's shareholders. Entitlements can take various forms, such as dividends, bonus shares, or other financial benefits, and their allocation is typically based on the company's financial performance and profitability.

The meeting is expected to be attended by the company's key decision-makers and financial experts who will thoroughly review the financial statements, audit reports, and other relevant documents before reaching a decision regarding entitlement.

This development comes as Ghani Value Glass Limited continues to make strides in the glass manufacturing industry, and shareholders eagerly await news regarding their entitlements. The outcome of the meeting will be closely monitored by investors and market analysts for its potential impact on the company's share price and future prospects.

Karachi, In its 72nd Annual General Meeting, Lucky Core Industries Limited, a prominent player in the industrial sector, has passed crucial resolutions that mark significant developments for the company's future.

Agenda Item No. 1:

The first resolution saw unanimous approval for the acceptance of the Audited Financial Statements of Lucky Core Industries Limited for the fiscal year ending June 30, 2023. These statements were presented alongside the Auditors' and Directors' Reports, and were received, considered, and duly adopted by the attending members.

Agenda Item No. 2:

Lucky Core Industries Limited continued to demonstrate its commitment to its shareholders with the approval of a substantial dividend. The resolution passed for a dividend of 330%, equivalent to PKR 33/- per ordinary share of PKR 10/- each, for the fiscal year ending June 30, 2023. This dividend recommendation by the Board of Directors was met with resounding approval and will be payable to eligible members whose names are listed in the Register of the Members as of September 19, 2023.

Agenda Item No. 3:

The appointment of external auditors is a critical aspect of corporate governance. In line with this, the third resolution of the meeting established that Mis A.F. Ferguson & Co. will serve as the external auditors for Lucky Core Industries Limited for the fiscal year ending June 30, 2024. Their appointment comes with a fee of PKR 8,500,000, inclusive of applicable taxes, and reimbursement of out-of-pocket expenses incurred by them.

These resolutions passed at the 72nd Annual General Meeting reflect the company's commitment to financial transparency, shareholder value, and corporate responsibility. Lucky Core Industries Limited remains dedicated to its mission of sustained growth and delivering value to its stakeholders.

Karachi, Tri-Star Power Limited has announced the scheduling of a crucial Board of Directors meeting, set to take place on October 5, 2023, in Karachi. The primary agenda for this meeting is the review of the company's Annual Accounts for the fiscal year ending on June 30, 2023. The Board will deliberate on these financial statements and may consider the declaration of any entitlements to shareholders.

In adherence to the regulations outlined by the Pakistan Stock Exchange (PSX), Tri-Star Power Limited has officially declared a "Closed Period." This closed period is in effect from September 26, 2023, and will continue until October 5, 2023. As mandated by clause 5.6.1(d) of the PSX Regulations, this closed period imposes restrictions on all Directors, CEOs, and Executives of the company, prohibiting them from engaging in any form of share transactions directly or indirectly during this timeframe.

The upcoming Board meeting holds significant importance for Tri-Star Power Limited as it reflects upon its financial performance over the last fiscal year. The potential declaration of entitlements further underscores the significance of this meeting. By adhering to the regulatory requirements and maintaining transparency, the company aims to ensure a fair and equitable process for all stakeholders.