Nishat Power Limited to Hold Annual General Meeting on October 26, 2023, Declares Final Cash Dividend

Lahore, Nishat Power Limited has announced that its Annual General Meeting (AGM) is scheduled to take place on October 26, 2023, in Lahore. During this AGM, various key agenda items will be addressed:

1. Adoption of Annual Audited Financial Statements: Shareholders will consider and adopt the Annual Audited Financial Statements of the company for the year ending June 30, 2023. These statements will include the Chairman's Review, Directors' reports, and the Auditors' reports.

2. Approval of Final Cash Dividend: Shareholders will vote on the approval of a Final Cash Dividend at a rate of 30%, which amounts to Rs. 3 per Ordinary Share. This dividend is recommended by the Board of Directors and is in addition to the 40% Interim Cash Dividend, which amounted to Rs. 4 per share and was already distributed for the year ending June 30, 2023.

3. Appointment of Statutory Auditors: The AGM will also involve the appointment of statutory Auditors for the fiscal year ending June 30, 2024. Their remuneration will be determined during the meeting.

Additionally, the company has issued a Book Closure Notice, stating that the Ordinary Shares Transfer Books of the Company will be closed from October 19, 2023, to October 26, 2023 (both days inclusive). This closure period is for the entitlement of the 30% Final Cash Dividend, which amounts to Rs. 3 per Ordinary Share for the year ending June 30, 2023. It is also for shareholders attending and voting at the Annual General Meeting. Any physical transfers or CDS Transactions IDs received in order, and fully processed by 1:00 p.m. on October 18, 2023, at the Share Registrar, Hameed Majeed Associates (Pvt.) Ltd, 7-Bank Square, Lahore, will be considered eligible for the above-mentioned 30% Final Cash Dividend and attendance at the Annual General Meeting.