Karachi, 786 Investments Limitedinformed Pakistan Stock Exchange that extraordinary general meeting of the company is scheduled to be held on July 30, 2018 at Karachi.
The agenda of the meeting will be confirming the minutes of the Annual General Meeting held on October 30, 2018 and to elect seven Directors of the Company as fixed by the Board of Directors under section 159(1) of the Companies Act, 2017 for a period of three years commencing from July 30, 2018.
Further, the closed period of the company is from July 17, 2018 to July 30, 2018 (both days inclusive).
The roots of 786 Investments Limited (Formerly Dawood Capital Management Limited) are truly international and development driven having been co-founded by Asian Development Bank (ADB) who had 25% shareholding. Originally, the company commenced business operations on January 1, 1993 as Pakistan Venture Capital Limited (PVCL) for venture capital financing. In 1999, First Dawood Group took over the management and worked in partnership with ADB. With the dearth of venture investments in 2002, FDG and ADB converted PVCL to the nascent industry of asset management, changing its name to Dawood Capital Management Limited (DCML) to better reflect its new mission and mandate. In 2007, once DCML had PKR 6.9 B assets under management and had achieved the status of a strong player in the industry, ADB divested in order to help fuel other industries in Pakistan. Then, in January 2017, the company name changed from Dawood Capital Management Limited to 786 Investments Limited to better reflect a new vision, mission and principles of the company.