Islamabad: Saif Power Limited has announced rigorous procedures for e-voting and postal ballot ahead of its Extraordinary General Meeting (EOGM) scheduled for April 15, 2025. The measures are aimed at ensuring a seamless voting process for its shareholders as they prepare to deliberate on important resolutions.
The company is utilizing the e-voting services of M/s THK Associates (Pvt) Limited. Shareholders with registered email addresses and valid cell numbers will receive detailed instructions through email by April 08, 2025. This communication will include web addresses and login details for the e-voting portal, while security codes will be sent via SMS. The e-voting window for agenda item No. 2 will remain open from April 12, 2025, to April 14, 2025, closing at 5:00 p.m.
In parallel, Saif Power Limited is offering an option for voting through postal ballot. Shareholders can download the ballot paper from the company's website. Completed ballots, along with a copy of the CNIC, must be submitted to the chairman either by post or email by April 14, 2025, before 5:00 p.m. Late submissions will not be considered.
The company’s board has appointed M/s Grant Thornton Anjum Rahman and Co, Chartered Accountants, as the scrutinizer for the EOGM. The firm will ensure the integrity of the voting process in line with Regulation 11A of the applicable regulations.
According to information available from the Pakistan Stock Exchange (PSX), Saif Power Limited is preparing to seek shareholder approval for a resolution under Section 199 of the Companies Act, 2017. The resolution involves renewing an unsecured Running Finance Facility for Saif Textile Mills Limited, amounting to Rs. 1.50 billion, for an additional year. This proposal, initially approved on April 15, 2024, will be subject to shareholder renewal for future one-year periods.
The EOGM will take place at Kehakshan Hall 2, Islamabad Hotel, G-6 Civic Centre, Melody Chowk, Islamabad, starting at 11:00 a.m. Shareholders are urged to participate in the voting process to influence the decision-making on this crucial financial matter.
Saif Power Limited, operating within the energy sector, is utilizing advanced methods to enhance shareholder participation and uphold democratic corporate governance practices.