Karachi: Pak Datacom, a leader in network solutions, has issued an addendum to its previously published Annual General Meeting Notice, notifying shareholders of a forthcoming resolution under Section 140(2) of the Companies Act 2017, as per the announcement made on Wednesday, September 30, 2024.
The company has informed its members that, in accordance with the Companies Act 2017, they may give notice of a resolution if they hold not less than five percent of the voting power in the company. This resolution is set to be proposed at the upcoming Annual General Meeting (AGM) as a special resolution. The specifics of the resolution and the revised postal ballot were detailed in the addendum, aiming to facilitate enhanced shareholder participation.
According to information available from the Pakistan Stock Exchange (PSX), the notification highlights the strategic measures Pak Datacom is adopting to ensure compliance and active engagement in its governance practices. This move is part of the broader corporate governance enhancements taking place across the market, reflecting the company’s commitment to uphold rigorous standards and transparency in its operations.
The resolution and the mechanisms for the postal ballot are designed to strengthen the governance framework of Pak Datacom, ensuring that shareholder rights are respected and that decisions reflect their collective will. This initiative is also seen as a step towards aligning the company’s operational directives with global best practices in corporate governance.