Category: Elections / Appointments

Karachi, In an upcoming board meeting, Pak Elektron Limited will convene on June 12, 2023, in Lahore to deliberate on the budgetary implications for the company's operations and potential entitlement declaration.

To ensure transparency and fairness, the company has announced a "Closed Period" commencing from June 6 to June 12, 2023. During this period, all directors, the CEO, and executives are prohibited from engaging in any form of share dealings, whether directly or indirectly.

The board meeting presents an opportunity for the directors to evaluate the financial standing of Pak Elektron Limited and its impact on future business strategies. By examining the budgetary implications, the board aims to make informed decisions regarding the allocation of resources and potential entitlements for shareholders.

With the "Closed Period" in effect, stakeholders and market participants eagerly await the outcome of the board meeting, anticipating valuable insights into the company's financial performance and the possibility of an entitlement declaration. The decisions made in this meeting hold the potential to shape the future direction of Pak Elektron Limited and have a significant impact on its stakeholders.

Karachi, Jubilee General Insurance Company Limited has announced the convening of an Extraordinary General Meeting (EOGM) to be held on Monday, June 26, 2023. The meeting will take place in Karachi and will also be accessible online via Zoom video link, ensuring widespread participation.

The primary agenda of the EOGM is to elect nine (9) Directors for the company. The Board, in a meeting held on April 18, 2023, has fixed the term of the newly elected directors to be three years, commencing from June 26, 2023. The company aims to bring in fresh perspectives and expertise to further strengthen its governance and drive sustainable growth.

Karachi, Sapphire Textile Mills Limited, a prominent player in the textile industry, has announced that an Extraordinary General Meeting of the Shareholders will take place on June 15, 2023, in Karachi. Additionally, shareholders will have the option to participate in the meeting through Video Conferencing. The meeting has been scheduled to address important matters and transact essential business.

The agenda for the meeting includes the confirmation of the minutes of the last General Meetings held on October 26, 2022, and December 27, 2022. This step ensures accuracy and transparency in documenting the proceedings of previous meetings.

A crucial item on the agenda is the election of ten Directors for a three-year term. The Board has fixed the number of directors and has undertaken the necessary procedures in accordance with Section 159(1) of the Companies Act, 2017. The appointment of new Directors will bring fresh perspectives and expertise to the management of Sapphire Textile Mills Limited, driving the company's growth and strategic decision-making in the coming years.

Karachi, Indus Dyeing and Manufacturing Company Limited has announced that an Extraordinary General Meeting (EOGM) will be held on June 15, 2023, in Karachi. The purpose of the meeting is to conduct important business, including the election of ten directors for the company's next three-year term, as fixed by the Board of Directors.

According to the provisions of Section 159 of the Companies Act, 2017, the retiring directors who are eligible for re-election will be considered for the directorship positions. The election of directors plays a crucial role in shaping the future direction of Indus Dyeing and Manufacturing Company Limited and ensuring effective governance.

As part of the notice circulated to the members of the company, a Statement of Material Facts has been provided, as required under Section 166(3) of the Companies Act, 2017. This statement outlines the relevant details concerning the selection process of Independent Directors, emphasizing transparency and compliance with corporate governance principles.

Karachi, Johnson & Phillips (Pakistan) Limited, in compliance with Section 159(4) of the Companies Act, 2017, has notified its shareholders regarding the upcoming Extraordinary General Meeting (EOGM) where the election of directors for the next three-year term will take place. Eight individuals have submitted their notices of intention to stand for election as directors at the meeting scheduled for May 29, 2023 in Karachi.

The EOGM serves as a crucial event for Johnson & Phillips (Pakistan) Limited, providing an opportunity for shareholders to exercise their voting rights and shape the composition of the board of directors. The election of directors plays a vital role in determining the strategic direction and governance of the company.

Karachi, IGI Holdings Limited has revealed the list of candidates who have submitted their notices of intention to offer themselves for election as Directors for the upcoming three-year term. The announcement was made ahead of the Extra Ordinary General Meeting scheduled to take place on May 23, 2023.

The candidates vying for directorship positions are as follows:

1. Syed Babar Ali

2. Syed Hyder Ali

3. Syed Yawar Ali

4. Syed Shahid Ali

5. Mr. Shamim Ahmed Khan

6. Mr. Ali Ahsan

7. Ms. Saima Amin Khawaja

Notably, the number of individuals who have expressed their willingness to be elected aligns with the number of directors predetermined by the company's board.

Karachi, Dolmen City REIT has announced that it has credited the interim cash dividend of Rs. 0.45 per share, i.e., 4.5% for the year ending 2023-06-30, into the designated bank accounts of the shareholders of the Company on May 8, 2023.

The electronic credit of the interim cash dividend follows the approval of the Board of Directors of Dolmen City REIT. The Company has been performing well in the current financial year, and the interim cash dividend is reflective of the strong financial position and the growth potential of the Company.

Karachi, Habib Rice Products Ltd. has announced that an Extraordinary General Meeting will be held on June 05, 2023, in Karachi, for the election of directors. The announcement was made after the Board of Directors' meeting, held on May 08, 2023.

The Board has also fixed the number of directors for the election as eight. The company has not yet disclosed the names of the candidates who will be running for the position. The shareholders will be informed about the candidates in due course.

The Extraordinary General Meeting for the Election of Directors is seen as a significant event in the company's history, and the shareholders are eagerly waiting for it.

Karachi, Atlas Asset Management Limited has announced the approval of its daily dividend distribution for the Atlas Liquid Fund (ALF). The investment committee of the fund has approved a distribution of Rs. 0.8727 per unit, which represents 0.1745% of the fund's par value. The distribution will be made to unit holders whose names were registered in the fund's unit holder register at the close of business on May 5, 2023.

The daily dividend distribution is part of Atlas Asset Management's ongoing efforts to provide value to its investors. The company is committed to delivering strong returns while maintaining a focus on risk management. The investment committee of the Atlas Liquid Fund is responsible for overseeing the investment strategy of the fund, which is designed to generate income and preserve capital.

Karachi, Shell Pakistan Limited has announced the election of new directors to its board at the Annual General Meeting held on May 4, 2023. The following individuals have been elected to the Board of Directors for a period of three years commencing from June 13, 2023:

Mr. Zain K. Hak, Mr. Zafar A. Khan, Mr. Rafi H. Basheer, Mr. Pervez Ghias, Mr. Badaruddin F. Vellani, Mr. John King Chong Lo, Mr. Amir R. Paracha, Mr. Zarrar Mahmud, Ms. Madiha Khalid and Mr. Imran R. Ibrahim

The election of new directors is a significant step in the company's journey towards achieving its long-term goals. The management is confident that the new directors will contribute significantly to the growth and success of the company in the coming years.

The shareholders of Shell Pakistan Limited are expected to welcome the new directors and provide them with the necessary support and guidance to fulfill their duties and responsibilities effectively.

Karachi, Kohinoor Textile Mills Limited informed Pakistan Stock Exchange that the nine persons have filed with the Company, notices of their intention to offer themselves for election as Directors for the next term of three years at the Extraordinary General Meeting held on April 19, 2023 at Lahore.

Kohinoor Textile Mills Limited is a public limited company incorporated in Pakistan. The principal activity of the Company is manufacturing of yarn and cloth, processing and stitching the cloth and trade of textile products.

Kohinoor Textile comprises of two spinning divisions located at Rawalpindi (KTML) and Gujar Khan (KGM). There are a total of nine units with 151,000 spindles. The total production of yarn is 28,800,000 Lbs per annum.

The total numbers of shares are 299,296,456. The Earnings per share is 9.21 in 2021 which was 5.11 in 2020. The Profit after Taxation of the Company is 2,756,329,000 in 2021 which was 1,528,043,000 in 2020.

Karachi, Tariq Corporation informed Pakistan Stock Exchange that the seven members have been re-elected as Directors of the Company for a term of three years commencing from April 01, 2023 in their Extraordinary General Meeting of the Shareholders of the Company held on March 31, 2023.

Tariq Corporation was incorporated on February 14, 1966 in Karachi and received its Certificate for Commencement of Business on April 16, 1966. The Company formerly known as Hussein Sugar Mills Limited, is principally engaged in the business of production and sale of sugar and by products.

The plant is located in Jaranwala, approximately 80KM from Lahore. The area has large tracts of land where sugarcane is cultivated and produces approximately 40-45 million mounds of sugarcane a year.

The total numbers of shares are 38,520,000. The Earnings per share is (7.43) in 2020 which was 9.05 in 2019. The Profit after Taxation of the Company is (286,206,000) in 2020 which was 293,543,000 in 2019.