Karachi, In anticipation of the 34th Annual General Meeting (AGM), Indus Motor Company Limited has announced the implementation of special voting procedures through postal ballots. The AGM is scheduled to take place on Wednesday, September 27, 2023, in Karachi.

The special business for this year's AGM, outlined as Item No. 4 in the Notice of Annual General Meeting, pertains to a crucial decision regarding the circulation of the company's Annual Audited Financial Statements to its members. Specifically, shareholders will deliberate whether to authorize the company to distribute these financial statements through QR-enabled codes and weblinks, as required by the Securities and Exchange Commission of Pakistan (SECP). This new method aims to replace the traditional practice of circulating the statements via CD/DVD/USB.

The proposed resolution states:

"RESOLVED THAT the Company be and is hereby authorized to circulate its Annual Audited Financial Statements to the members of the Company through QR-enabled code and weblink, in accordance with S.R.O. 389(I)/2023 dated March 21, 2023, issued by SECP.

FURTHER RESOLVED THAT the Chief Executive, Chief Financial Officer, or Company Secretary of the Company be and are hereby singly authorized to do all acts, deeds and things, take or cause to be taken all necessary actions to comply with all legal formalities and requirements and file necessary documents, as may be necessary or incidental for the purpose of implementing this resolution."

This resolution reflects the company's commitment to adhering to the SECP's regulations while embracing modern digital means of communication for the benefit of its shareholders.

In preparation for this vote, Indus Motor Company Limited will provide shareholders with a ballot paper for poll/voting through post. This process aims to ensure that all eligible shareholders have an opportunity to cast their votes and voice their opinion on this significant matter.

The AGM on September 27, 2023, will serve as a pivotal moment for Indus Motor Company Limited, allowing shareholders to decide the future method of disseminating financial information while aligning with regulatory requirements.