Faisalabad: Rafhan Maize Products Co. Limited will host its 136th Extraordinary General Meeting (EGM) for shareholders on September 5, 2024, at its Head Office in Faisalabad, focusing on the election of new directors.
This significant meeting, slated for early September, will involve the election of eleven directors, as determined by the company's board, for a three-year term commencing on September 7, 2024. This decision follows the guidelines of Section 159 of the Companies Act, 2017. According to information available from the Pakistan Stock Exchange (PSX), the directors eligible for re-election include notable figures such as Mr. Michael F. O'Riordan and Ms. Tanya Jaegar de Foras, among others. The complete list of directors seeking re-nomination reflects a blend of continuity and seasoned leadership within the company’s management structure.
The Share Transfer Books of Rafhan Maize will remain closed from August 30 to September 5, 2024, to facilitate the administrative aspects of this meeting. During this period, no share transfers will be recorded. Shareholders who wish to attend the meeting in person must adhere to specific requirements, including submission of a proxy form 48 hours before the meeting if they cannot attend. Proxies need not be company members.
In an effort to comply with modern corporate practices and regulatory directives, Rafhan Maize also encourages shareholders to participate in the EGM via video-link. Details for online participation need to be confirmed by September 3, 2024, by contacting the company through their designated email.
Moreover, the company has reiterated the necessity for shareholders to register for electronic dividend payments, as mandated under Section 242 of the Companies Act, 2017. This move towards electronic payment methods underscores Rafhan Maize's commitment to leveraging technology for shareholder convenience and regulatory compliance.
The upcoming elections are structured to cover three categories: one seat for a Female Director, three seats for Independent Directors, and seven seats for Other Directors. Potential candidates must submit their nominations by August 22, 2024, aligning with the procedural requirements and corporate governance standards set forth in the Companies Act, 2017, and other relevant regulations.