Karachi, Standard Chartered Bank (Pakistan) Limited has announced its 18th Annual General Meeting (AGM) to be held on 28 March 2024. The meeting is scheduled for 3:00 p.m. at the ICAP Chartered Accountants Avenue, Clifton, Karachi and will be accessible through video conferencing. The agenda includes the adoption of Audited Accounts for the year ended 31 December 2023, the reappointment of M/s EY Ford Rhodes as Statutory Auditors for 2024, and the approval of a final cash dividend of 25% (Rs. 2.5 per share).
The shareholders will consider the transmission of the Annual Audited Accounts and related documents via QR Code and Weblink, following the Securities and Exchange Commission of Pakistan's guidelines. Additionally, the revised Directors’ Remuneration Policy, as proposed by the Board, will be reviewed on a post facto basis.
The Bank’s Share Transfer Books will remain closed from 19 March to 28 March 2024. Shareholders recorded by 18 March 2024 will be eligible to attend, vote at the AGM, and receive the proposed dividend. The bank has detailed the procedures for attending the meeting in person or through a proxy, as well as the online participation and voting protocols.
Furthermore, shareholders are urged to update their contact details and comply with e-dividend requirements by providing their CNIC and IBAN numbers. The bank also highlighted the importance of converting physical shares into book-entry form and informed about the taxation on dividend income based on the filer status as per Federal Board of Revenue's (FBR) regulations.
The notice concludes with instructions for shareholders regarding the conduct during the AGM and the process for voting through postal ballot or e-voting on special business items, including the approval of the digital transmission of annual financial statements and the revised remuneration policy for directors.