Islamabad: In alignment with the amended Companies (Postal Ballot) Regulations of 2018, Saif Power Limited has announced the provision of electronic voting and postal ballot options for its shareholders. The move is set to facilitate voting on special business items in the company's forthcoming Extraordinary General Meeting (EOGM), scheduled for September 26, 2025, at 11:30 a.m. at the Islamabad Hotel.
The electronic voting facility will be made available to shareholders through the web portal managed by M/s THK Associates (Pvt) Limited, the designated e-voting service provider. Shareholders with registered email addresses and valid cell numbers in the company's records will receive their login details via email by September 19, 2025. Security codes necessary for accessing the portal will be sent through SMS. The voting window for agenda item No. 2 will be open from September 22 to September 25, 2025, until 5:00 p.m.
Alternatively, shareholders can opt for voting through postal ballot. The ballot paper is accessible for download from the company's website, and completed forms must be submitted to the chairman either via post or email at [email protected] by September 25, 2025, before 5:00 p.m. Postal ballots received after the deadline will not be considered.
In a strategic move, Saif Power Limited's board has appointed M/s KPMG Taseer Hadi & Co as the scrutinizer for the meeting. The audit firm will oversee the special business transactions per Regulation 11A of the Postal Ballot Regulations.
The special business under consideration includes amending the long-term loan agreement with Saif Textile Mills Limited. The proposed changes involve revising the frequency of mark-up payments and extending the grace period for repayment of principal installments. Additionally, there is a proposal to enhance the unsecured long-term loan to Saif Textile Mills Limited by PKR 400 million. The financial adjustments will not alter the final maturity date of September 27, 2032.
According to information available from the Pakistan Stock Exchange (PSX), Saif Power Limited's initiatives align with regulatory requirements and are aimed at enhancing shareholder engagement and decision-making processes.
The board has authorized the Chief Executive Officer or any director of Saif Power Limited to execute the necessary actions and formalities to implement these resolutions, ensuring compliance with the Companies Act, 2017.
As the EOGM date approaches, Saif Power Limited continues to emphasize shareholder participation and transparency in corporate governance practices.