Lahore: Pakistan Engineering Company Limited has announced the scheduling of its 71st Annual General Meeting (AGM) for shareholders, set to take place on Monday, February 17, 2025, at 11:10 AM. The meeting will be held at the Hotel Four Points by Sheraton on Egerton Road, Lahore, with provisions for attendance through video conferencing to facilitate broader participation.
The company has declared a 'Closed Period' from February 10, 2025, to February 17, 2025, in compliance with clause No. 5.6.1(d) of the PSX Regulations. Notices have been disseminated to members and shareholders via registered post and electronic means. Additionally, the notice has been published in the English daily Business Recorder, the Urdu daily Nawai-e-Wqat, and on the company’s official website, www.peco.com.pk. Shareholders are encouraged to attend the meeting through the electronic link facility managed by the company for seamless participation.
The AGM will address key business agendas, including the reception, consideration, and adoption of the Annual Audited Financial Statements for the year ending on June 30, 2020. These will be reviewed alongside the Auditors' and Directors' Reports and the Chairman's Review Report. Notably, the appointment of the company's auditors and their remuneration, approved by the Securities and Exchange Commission in May 2024, will not form part of the AGM’s business agenda.
According to information available from the Pakistan Stock Exchange (PSX), the company has ensured that its Share Transfer Books will remain closed from February 10, 2025, to February 17, 2025. Transfer requests, submitted in the prescribed format, should reach the office of the Share Registrar, M/s. CDC Share Registrar Services Limited, in Karachi by the close of business on February 7, 2025, to be considered timely for AGM attendance.
In a bid to enhance shareholder engagement, the company has facilitated virtual participation. Shareholders wishing to attend the AGM virtually are required to register by sending an email with necessary details and a copy of their CNIC to [email protected] or via WhatsApp at 0321-8200864, under the subject 'Registration for AGM 2020 - PECO,' at least 48 hours before the meeting time. The electronic meeting link will be shared with registered members, with the login facility available from 10:45 AM until the meeting concludes on February 17, 2025.
Furthermore, in compliance with the Companies Act, the company has electronically transmitted the Annual Report for 2020 to shareholders with registered email addresses through M/s. CDC Share Registrar Services Limited. Notices of the AGM, including the download link and QR code for the Annual Report, have been dispatched under S.R.O. 389 (1)/2023, dated March 21, 2023. The complete financial statements and related reports for the year ended June 30, 2020, are accessible on the company’s website.