Category: Board Meetings

Karachi, Cordoba Logistics and Ventures Limited has announced the postponement of its scheduled Board of Directors meeting, which was slated to be held on September 7, 2023. The primary agenda of this meeting was to deliberate on and approve the audited financial statements for the fiscal year ending on June 30, 2023, alongside addressing ancillary matters and other non-financial results-related issues.

The decision to cancel/postpone the meeting was necessitated by unforeseen and unavoidable circumstances, which have temporarily disrupted the proceedings. Cordoba Logistics and Ventures Limited is committed to ensuring that all necessary preparations and conditions are met for the meeting to be conducted effectively and in compliance with regulatory requirements.

The company is currently working diligently to reschedule the meeting, and further details regarding the revised date and time will be communicated to stakeholders and the financial community in due course.

The postponed meeting underscores Cordoba Logistics and Ventures Limited's commitment to adhering to sound governance practices and transparency in its financial reporting. Shareholders, investors, and stakeholders can expect to receive timely updates on the rescheduled meeting and any matters related to the company's financial performance and strategic direction.

Karachi, Pakistan Refinery Limited (PRL) has officially announced its Sixty-third (63rd) Annual General Meeting, scheduled to take place on September 27, 2023. The meeting will be held both at the Company's premises in Karachi and through a video-link facility to accommodate participants remotely, ensuring a broader and more accessible forum for shareholders to engage.

The AGM agenda includes the following key business matters:

Ordinary Business:

1. Audited Financial Statements Approval: Shareholders will deliberate on and approve the Audited Financial Statements of Pakistan Refinery Limited for the fiscal year ending June 30, 2023. This discussion will be accompanied by comprehensive reports from the Board and the Auditors, shedding light on the company's financial performance over the past year.

2. Appointment of Auditors: The AGM will also determine the appointment of the Company's Auditors for the year ending June 30, 2024. Additionally, shareholders will set the remuneration for the appointed Auditors.

3. Election of Directors: In accordance with the provisions of section 159(1) of the Companies Act 2017, shareholders will participate in the election of Ten (10) Directors of Pakistan Refinery Limited. These Directors were nominated by the Board of Directors during their Meeting held on August 18, 2023, and will serve a three-year term starting from October 8, 2023.

The Annual General Meeting serves as a vital platform for shareholders to exercise their rights and contribute to the strategic direction of Pakistan Refinery Limited. The company is committed to upholding transparency and ensuring that all shareholders have the opportunity to participate, whether in person or remotely through the video-link facility.

Shareholders are encouraged to mark their calendars for this important event, where they can actively engage in discussions and decisions that will shape the future of Pakistan Refinery Limited. Further details and instructions on how to participate in the AGM, whether physically or via video-link, will be communicated to shareholders in due course.

Karachi, Silkbank Limited has officially announced that a meeting of its Board of Directors is scheduled to take place on September 12, 2023, in Islamabad. The primary agenda for this meeting, as disclosed by the bank, is to discuss matters other than financial results.

In compliance with Clause 5.6.1 (d) of the Pakistan Stock Exchange (PSX) Regulations, Silkbank Limited has declared a "Closed Period" from September 06, 2023, through September 12, 2023. During this period, no Director, CEO, or Executive of the bank shall, directly or indirectly, engage in any dealings related to the bank's shares.

The declaration of a Closed Period is a standard practice in the financial industry, aimed at maintaining market integrity and ensuring that all investors have equal access to information that may affect a company's stock price. It restricts key individuals within the organization from trading the company's shares or disclosing non-public information during this sensitive period.

Silkbank Limited remains committed to adhering to regulatory requirements and upholding transparency in its operations. The Board of Directors' meeting on September 12, 2023, will provide an opportunity for strategic discussions on important matters, contributing to the bank's long-term growth and stability.

Shareholders and stakeholders are encouraged to stay informed about developments related to Silkbank Limited and to monitor official communications from the bank for updates on the outcomes of the Board of Directors' meeting and any other significant news during this Closed Period.

Karachi, Habib Rice Product Limited has announced that its Board of Directors is scheduled to convene on September 13, 2023, in Karachi. The primary agenda of this meeting will be to receive and adopt the Auditors Report and Audited Financial Statements for the fiscal year ending on June 30, 2023. These financial documents will subsequently be presented for approval by the shareholders of the company. The meeting will also address any other pertinent matters with the permission of the Chairman.

In accordance with the Pakistan Stock Exchange (PSX) Listing Regulations, Habib Rice Product Limited has declared the period from September 5, 2023, to September 13, 2023, as a "Closed Period." During this time frame, the company's Directors, CEO, and other Executives have been duly notified to adhere to compliance protocols, refraining from any trading activities related to the company's shares.

This announcement underscores the company's commitment to transparency and adherence to regulatory guidelines, ensuring that all stakeholders are informed and that corporate governance standards are maintained. As the meeting approaches, shareholders and investors will be keenly watching for updates and developments related to the approval of financial statements.

Karachi, Lucky Cement Limited has officially announced its 30th Annual General Meeting (AGM), set to take place on September 26, 2023, at the company's registered office located within the factory premises in Pezu, District Lakki Marwat, Khyber Pakhtunkhwa. The AGM will encompass crucial deliberations, including the approval of financial statements, declaration of cash dividends, and the appointment of auditors for the year ending June 30, 2024.

ORDINARY BUSINESS AGENDA:

1. Review of Financial Statements:

The AGM will commence with the review, consideration, and adoption of the audited financial statements of Lucky Cement Limited for the fiscal year ending June 30, 2023. This includes an examination of the Board of Directors' and Independent Auditors' reports. As per regulatory requirements, the financial statements have been made available for download on the company's website, ensuring accessibility and transparency for all stakeholders.

2. Declaration of Cash Dividend:

One of the significant decisions to be made during the AGM is the declaration and approval of the final cash dividend. The proposal recommends a generous cash dividend of 180%, equivalent to PKR 18 per ordinary share of PKR 10 each, for the fiscal year ended June 30, 2023. This recommendation has been put forth by the Board of Directors.

3. Appointment of Auditors:

In addition to the financial matters, shareholders will be called upon to appoint auditors for Lucky Cement Limited for the fiscal year ending June 30, 2024. The present auditors, M/s. A. F. Ferguson & Co., Chartered Accountants, who are eligible for reappointment, have expressed their consent to continue in their role. The Board of Directors has endorsed their reappointment, and the shareholders will have the opportunity to affirm this decision during the AGM.

The 30th Annual General Meeting of Lucky Cement Limited promises to be a pivotal event, where important corporate decisions will be made in the best interests of the company and its shareholders. This gathering provides a platform for open discussion and decision-making, contributing to the ongoing success and transparency of Lucky Cement Limited.

Karachi, Trust Modaraba has announced that the 119th Meeting of the Board of Directors of Al-Zamin Modaraba Management (Pvt.) Ltd., the Management Company of Trust Modaraba, is scheduled for September 12, 2023, at their Head Office in Karachi. The primary agenda of this meeting is to deliberate upon and approve the financial accounts of Trust Modaraba for the fiscal year ending on June 30, 2023.

In accordance with regulatory requirements, a close period has been set from September 5, 2023, to September 12, 2023, encompassing both days. During this period, the CEO and Directors of the company will be restricted from engaging in any trading activities related to the shares of Trust Modaraba. This measure is taken in compliance with Clause 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations.

The forthcoming board meeting is expected to provide insights into Trust Modaraba's financial performance, offering shareholders and stakeholders a comprehensive overview of the company's operations for the past year. Such transparency and accountability are vital to maintaining trust and credibility in the financial markets.

Trust Modaraba remains committed to upholding the highest standards of corporate governance and intends to keep its investors informed about any significant developments or decisions resulting from the board meeting on September 12, 2023.

Karachi, Nishat Chunian Power Limited has officially announced the date for its 16th Annual General Meeting (AGM), which is scheduled to take place on Monday, September 25, 2023, in Lahore. Shareholders and stakeholders are expected to convene to deliberate on significant matters crucial to the company's operations and financial outlook.

The AGM will address several key items on its agenda:

1. Confirmation of Previous Minutes: Shareholders will review and confirm the minutes of the 15th Annual General Meeting, held on September 06, 2022. This essential step ensures transparency and accountability in the company's proceedings.

2. Adoption of Audited Financial Statements: The audited financial statements of Nishat Chunian Power Limited for the fiscal year ending on June 30, 2023, will be presented for consideration and adoption. Alongside this, shareholders will have access to the Chairman's Review, Directors' reports, and Auditors' reports to provide a comprehensive overview of the company's financial health and performance.

3. Appointment of Auditors: Shareholders will make decisions regarding the appointment of auditors for the fiscal year ending on June 30, 2024, and the fixation of their remuneration. The current auditors, M/s Riaz Ahmad & Company, Chartered Accountants, have offered themselves for reappointment, and this will be subject to approval during the meeting.

4. Any Other Business: As customary in AGMs, attendees will have the opportunity to discuss any other pertinent business with the permission of the Chair, addressing potential additional matters relevant to the company's operations and strategies.

Furthermore, it is important to note that the Share Transfer Books of Nishat Chunian Power Limited will remain closed from September 18, 2023, to September 25, 2023, inclusive of both days. This temporary closure is a standard procedure to facilitate the management of shares and ensure the accuracy of records during the AGM proceedings.

The 16th Annual General Meeting of Nishat Chunian Power Limited is expected to be a significant event for shareholders, as it will provide insights into the company's financial standing, future plans, and overall corporate governance. Shareholders and stakeholders are encouraged to mark the date on their calendars and actively participate in the discussions that will shape the company's future direction.

Karachi, Board of Directors of Thal Limited is set to convene on September 11, 2023, to deliberate on the company's Annual Accounts for the period ending June 30, 2023, with a focus on the possible declaration of entitlements for shareholders.

Thal Limited, a prominent player in Pakistan's industrial landscape, has declared a Closed Period from September 4, 2023, until September 12, 2023. During this Closed Period, insiders, including directors, executives, and employees with access to sensitive company information, are prohibited from trading in the company's shares. This measure is implemented to ensure fairness and transparency in the market by preventing any undue advantage to insiders who may possess non-public information that could impact the stock price.

The Annual Accounts meeting will be a crucial event for Thal Limited, as it will not only review the company's financial performance for the specified period but also assess the feasibility of declaring entitlements to its shareholders. Entitlements typically include dividends and bonus shares and are eagerly anticipated by investors as they directly impact their returns on investment.

The outcome of this Board meeting will be of significant interest to both Thal Limited's shareholders and the broader financial community. It will provide insights into the company's financial health, its plans for distributing profits, and its future outlook. The decisions made during this meeting can influence investor sentiment and the company's stock performance in the weeks to come.

As the meeting date approaches, stakeholders eagerly await the announcements and decisions that will emerge from the Thal Limited Board of Directors, which could have far-reaching implications for the company's future and its investors.

Karachi, Indus Motor Company Limited, a prominent name in Pakistan's automotive industry, has issued a notice for its 34th Annual General Meeting (AGM), scheduled to be held on Wednesday, September 27, 2023, at 9 a.m. The AGM will take place at the Institute of Chartered Accountants of Pakistan (ICAP), Chartered Accountants Avenue, Block 8, Clifton, Karachi. Shareholders are invited to attend the meeting in person or via video link.

Agenda for the AGM:

Ordinary Business:

1. Annual Audited Financial Statements: Shareholders will review and consider the Annual Audited Financial Statements of the Company for the fiscal year ending June 30, 2023, along with the Chairman's Review and the Directors' and Auditors' Report.

2. Approval of Cash Dividend: The directors have recommended a Final Cash dividend at 290% per share, totaling Rs 29 per share for the fiscal year 2022-2023. This is in addition to the combined Interim Dividend of 428% i.e., Rs. 42.80 per share, already paid. The total dividend for 2022-2023 will thus amount to 428% i.e., Rs. 42.80 per share.

3. Auditor Appointment: Shareholders will appoint auditors for the fiscal year ending June 30, 2024. The present auditors, M/s. A.F. Ferguson & Co., Chartered Accountants, have offered themselves for re-appointment, and their remuneration will be determined during the meeting.

Closure of Share Transfer Books:

Additionally, the company has announced the closure of Share Transfer Books from September 20, 2023, to September 27, 2023 (both days inclusive) for the purpose of the AGM and payment of the Final Cash dividend.

The AGM presents an important opportunity for shareholders to engage with the company's financial performance, dividend distribution, and the appointment of auditors for the upcoming fiscal year. Indus Motor Company Limited continues to be a key player in Pakistan's automotive sector, and this meeting will provide insights into its strategic direction and financial health.

Shareholders and interested parties are encouraged to mark their calendars for this significant event in the corporate calendar of Indus Motor Company Limited. Further details and access information for the video link facility will be provided to shareholders closer to the date of the AGM.

Karachi, Jubilee Life Insurance Company Limited convened a Board meeting today in Karachi, focusing on matters unrelated to financial results. The meeting, which did not involve discussions on financial performance, aimed to address various other aspects of the company's operations.

During the meeting, company executives and board members engaged in deliberations concerning non-financial issues critical to Jubilee Life Insurance's strategic direction and overall well-being. While the specifics of the discussions were not disclosed to the public, it was emphasized that no price-sensitive information was shared or discussed that could impact the market price of JLICL shares.

The management of Jubilee Life Insurance reiterates its commitment to maintaining transparency and regulatory compliance. As per the company's statement, this meeting was intended solely for internal discussions and to ensure that the organization continues to operate efficiently and effectively.

Karachi, Lakson Investments Limited has announced its upcoming Board of Directors meeting scheduled for September 4, 2023, in Karachi. The primary agenda of this pivotal gathering is to review and discuss the Annual Accounts for the period ending June 30, 2023, with a potential focus on the declaration of any entitlements for stakeholders.

To ensure the integrity and fairness of the decision-making process, the company has declared a Closed Period from September 4, 2023, until the same date. During this period, insiders, directors, and relevant employees are prohibited from trading shares of the company. This standard practice is designed to prevent any potential insider trading and maintain a level playing field for all shareholders.

The Lakson Investments Limited Board Meeting carries significant implications for the company's financial performance and its investors. The discussion regarding entitlements, in particular, holds the potential to influence the company's future dividend distribution and shareholder value.

Investors, analysts, and stakeholders will be closely monitoring the outcomes of this meeting, as it will provide insights into the financial health and strategic direction of Lakson Investments Limited for the coming year.

Karachi, The Board of Directors of Bannu Woollen Mills Limited is set to gather for a crucial meeting on September 11, 2023. While the company's financial performance typically takes center stage during board meetings, this upcoming session will focus on matters unrelated to financial results.

The decision to convene this special meeting was announced by the company in a recent press release. During the meeting, the board will deliberate upon a range of agenda items, all of which pertain to various facets of the company's operations and strategy.

In light of the impending board meeting, Bannu Woollen Mills Limited has formally declared a "Closed Period" commencing on September 4, 2023, which will extend until the conclusion of the meeting on September 11, 2023. During this period, individuals with access to inside information about the company, including directors, officers, and employees, are prohibited from trading in the company's shares or disclosing non-public information that could affect the stock's value.

While the company has not disclosed specific details regarding the agenda items to be discussed, such meetings typically address issues such as strategic planning, corporate governance matters, executive appointments, and other non-financial aspects vital to the company's long-term growth and stability.

Investors and stakeholders of Bannu Woollen Mills Limited will eagerly await further updates following the board meeting to gain insights into the company's direction and priorities beyond its financial performance.