Category: Board Meetings

Karachi, Exide Pakistan Limited has scheduled a Board of Directors meeting to deliberate on the cancellation of the upcoming Extra Ordinary General Meeting. The meeting is set to take place in Karachi on June 16, 2023.

As per the notification, the company has declared a "Closed Period" from June 16, 2023, to June 16, 2023. During this period, it is strictly prohibited for any Director, CEO, or Executive, either directly or indirectly, to engage in any transactions involving the shares of the company.

The decision to cancel the Extra Ordinary General Meeting indicates a potential shift in the company's agenda or strategy. Such meetings are typically called to discuss important matters that require immediate attention or shareholder approval. The details surrounding the cancellation and the reasons behind it remain undisclosed.

Karachi, In a recent development, the Board of Directors of Saritow Spinning Mills Limited has made the decision to cancel the Extraordinary General Meeting (EOGM) that was initially scheduled to take place on June 22, 2023, in Lahore. This decision comes after the Board passed a resolution by circular, wherein they opted to withdraw the proposed businesses that were slated to be discussed at the EOGM.

One of the key proposals that have been withdrawn is the plan to increase the company's Authorized Share Capital. The Board of Directors had previously suggested an increase from Rs. 350,000,000, divided into 35,000,000 ordinary shares of Rs. 10/- each, to Rs. 450,000,000, and divided into 45,000,000 ordinary shares of Rs. 10 /- each.

As a result of the withdrawal of proposed businesses and the lack of any additional agenda items, the Board has decided to cancel the EOGM entirely. Consequently, the Book Closure associated with the meeting will also be withdrawn.

Karachi, In a surprising turn of events, the board of directors of Bhanero Textile Mills Limited announced the cancellation of the eagerly awaited Extraordinary General Meeting (EOGM) scheduled for 23rd June, 2023. The primary agenda item for the meeting was the proposed increase in the authorized share capital of the company.

During their meeting on 16th June, 2023, the board made the unanimous decision to withdraw the proposal for increasing the authorized share capital. Consequently, all other agenda items that were to be discussed during the EOGM have also been withdrawn. The board intends to reconsider these items and potentially present them at the next general meeting of the company.

As a result of this decision, the scheduled EOGM, which was set to take place in Karachi, has been officially canceled. Shareholders and stakeholders are advised that the closure of the shares transfer book, initially announced from 17th June, 2023 until 23rd June, 2023, has also been revoked.

Karachi, In an upcoming board meeting, Punjab Oil Mills Limited will convene to discuss important matters regarding the company's future. The meeting, scheduled for June 15, 2023, in Islamabad, will focus on two significant agenda items.

Firstly, the Board of Directors will deliberate on the annual budget for the fiscal year ending June 30, 2024. This discussion aims to establish a comprehensive financial plan to guide the company's operations and investments in the coming year.

Additionally, the board will consider the recommendation to issue bonus shares to the shareholders. It has been proposed that twenty (20) shares be distributed for every one hundred (100) shares held, equating to a bonus share proportion of 20%. This move is expected to provide additional value to the existing shareholders and strengthen their stake in the company.

In anticipation of these important decisions, Punjab Oil Mills Limited has declared a "Closed Period" from June 25 to June 26, 2023. During this period, no director, CEO, or executive, whether directly or indirectly, will be permitted to engage in any form of share dealing in the company. This precautionary measure ensures fairness and transparency in the decision-making process by preventing any potential conflicts of interest.

Karachi, the board of directors of Faisal Spinning Mills Limited has made a significant decision regarding the company's future plans. The board has decided against increasing the authorized share capital of the company, which was originally proposed to be approved during the scheduled extraordinary general meeting (EOGM) on June 23, 2023.

Not only has the share capital increase been canceled, but all other agenda items slated for discussion during the EOGM have also been withdrawn. If deemed appropriate, these agenda items will be recommended by the board of directors at the next general meeting of the company.

As a result of this decision, the anticipated EOGM, which was planned to take place at the registered office of Faisal Spinning Mills Limited on June 23, 2023, stands canceled. The closure of the shares transfer book, previously communicated to be effective from June 17, 2023, until June 23, 2023, has also been called off.

Karachi, the Board of Directors of Habib Sugar Mills Limited has made some significant decisions, leading to the cancellation of the highly anticipated Extraordinary General Meeting. The decisions were reached through a circular resolution dated June 15, 2023.

Firstly, the Board has decided to cancel the proposed increase in the Authorized Share Capital of the Company. This recommendation had been put forward during the Board meeting held on June 1, 2023. The decision to cancel the increase indicates a shift in the company's strategic direction.

Secondly, the proposed alteration in the Clause V of the Memorandum of Association and Article 4 of the Articles of Association of the Company has also been cancelled. This alteration was also discussed and recommended during the June 1st Board meeting.

Furthermore, the Extraordinary General Meeting, which was originally scheduled to take place on June 23, 2023, at 11:00 a.m., has been completely canceled. Consequently, all agenda items pertaining to the meeting have been withdrawn. Shareholders and stakeholders who were eagerly awaiting the meeting will have to wait for further updates from the company.

Karachi, In a recent meeting held on June 14, 2023, the Board of Directors of Descon Oxychem Limited gathered in Lahore to review the company's annual business plan and budgets for the financial year 2023-24. Following a comprehensive discussion, it was determined that there was no significant information that required dissemination to the Pakistan Stock Exchange.

During the meeting, the Board carefully assessed the proposed business plan and budgets for the upcoming fiscal year. The thorough evaluation ensured that all aspects of Descon Oxychem Limited's operations were considered, including potential opportunities and challenges in the market.

The absence of material information for disclosure to the Pakistan Stock Exchange reflects the stability and predictability of Descon Oxychem Limited's financial performance. This outcome is a testament to the company's commitment to maintaining a transparent and efficient reporting process.

While no specific details were disclosed regarding the annual business plan and budgets, the Board of Directors expressed their confidence in the strategic direction outlined for the upcoming financial year. By thoroughly reviewing the plans, Descon Oxychem Limited aims to optimize its operations, enhance profitability, and capitalize on emerging opportunities in the market.

The Board's careful consideration of the business plan and budgets reinforces the company's dedication to sustainable growth and its commitment to creating long-term value for shareholders.

With the successful conclusion of the meeting, Descon Oxychem Limited is poised to enter the financial year 2023-24 with a well-defined roadmap for success.

Karachi, In a recent emergent board meeting held on June 15, 2023, the Board of Directors made significant decisions that will impact the future of the company. The meeting, conducted via video link, resulted in the declaration of interim bonus shares and the cancellation of the scheduled Extraordinary General Meeting (EOGM).

Firstly, the Board recommended the issuance of bonus shares to shareholders. As per their decision, every hundred shares held will be entitled to receive sixty bonus shares, representing a 60% increase. However, to facilitate this distribution, the share transfer books will remain closed from June 22 to June 23, 2023, inclusive.

Additionally, the board made important decisions concerning the previously planned EOGM. They passed a resolution to halt the proposed increase in the authorized share capital, which had been discussed and approved in the board meeting held on May 30, 2023. Consequently, the EOGM, initially scheduled for June 21, 2023, has been canceled. The board also clarified that the previously communicated book closure period from June 17 to June 21, 2023, will no longer be in effect.

Karachi, Sakrand Sugar Mills Limited has announced that a meeting of its esteemed Board of Directors will be convened on June 23, 2023, in Karachi. The primary agenda of the meeting will be to deliberate upon the Quarterly Accounts for the period ending on March 31, 2023, with the possibility of declaring any entitlement.

To ensure transparency and maintain the integrity of the decision-making process, the company has declared a Closed Period from June 17, 2023, to June 23, 2023. During this period, no Director, Chief Executive Officer (CEO), or Executive of the company will be allowed to engage in any direct or indirect dealings pertaining to the shares of the organization.

During the Board meeting, the Directors will thoroughly analyze the Quarterly Accounts and discuss various financial aspects, including revenue, expenses, profitability, and overall financial performance. They will evaluate the company's progress in achieving its strategic objectives and make informed decisions regarding the declaration of any entitlement, which may impact the shareholders.

The Board of Directors at Sakrand Sugar Mills Limited comprises seasoned professionals and industry experts who bring a wealth of experience and expertise to the table. Their diligent assessment and prudent decision-making will play a pivotal role in shaping the company's future trajectory and ensuring sustainable growth.

Karachi, Silkbank Limited has conducted a Board Meeting on Thursday, where various matters were discussed. However, the bank emphasized that there were no announcements made regarding the dissemination of any Price Sensitive Information that could potentially impact the market price of Silkbank shares.

During the meeting, the board members deliberated on several important matters related to the bank's operations, strategies, and future plans. While no specific details were disclosed, it is evident that Silkbank Limited is actively engaged in reviewing and addressing key aspects of its business to ensure sustained growth and success.

Karachi, Zahur Cotton Mills Limited has announced that a Board of Directors meeting will take place in Lahore on June 15, 2023. The meeting's agenda will focus on matters other than financial results, indicating potential discussions on strategic decisions and operational aspects.

To ensure a fair and transparent environment for the meeting, the company has implemented a "Closed Period" starting from June 15, 2023. During this period, which also concludes on the same day, the directors, CEO, and executives are prohibited from engaging in any direct or indirect dealings involving the company's shares.

The decision to hold a meeting centered on non-financial matters suggests that Zahur Cotton Mills Limited is taking proactive steps to address broader aspects of the company's operations. While the specific topics of discussion remain undisclosed, this development indicates a commitment to effective corporate governance and decision-making.

The Board of Directors, consisting of experienced professionals, will convene to deliberate on the identified matters, taking into consideration the interests of the company, its stakeholders, and the industry as a whole. The decisions made during the meeting may have a significant impact on the future trajectory of Zahur Cotton Mills Limited.

Karachi, Towellers Limited's Board of Directors has made the decision to cancel the scheduled Extraordinary General Meeting (EOGM) slated for June 23rd, 2023. The company's plan to increase its authorized share capital has been scrapped, prompting the withdrawal of the previously announced Notice of EOGM. Additionally, the change in book closure, originally set for June 17th, 2023 in preparation for the EOGM, has been canceled.

Moreover, the distribution of the company's annual audited financial statements to its members, which had been approved during the Board of Directors meeting held on June 2nd, 2023, has been deferred. Instead of circulating the statements through a QR-enabled code and weblink as initially planned, this process will now take place during the next general meeting of the Company.