In an initiative aimed at providing companies with cost-effective, easy communication of information, the Securities and Exchange Commission of Pakistan (SECP) has designated an email address ([email protected]) for receipt of information from all listed companies. The link is a custom-built email ID and has been displayed prominently on the SECP website.
In order to facilitate the listed companies and for effective utilisation of modern communication technology, the SECP has approved Circular 10/2012 laying down mandatory requirements for listed companies to transmit notice of annual general meetings and extraordinary general meetings through email. The listed companies can now submit the notice of general meetings by clicking a button-with minimum hassle and maximum reliability.
Now the listed companies have been given the option to submit copies of the notices of general meetings, statements of material facts and proof of their publication in the local newspaper through email on a designated email address. It may be noted that choice of the medium adopted for submission of the said document shall remain open to the companies.
In order to ensure that the shareholders receive the notice of meeting in time and that it contains all the relevant material information, the SECP has laid down the regulatory framework embodied in Circular No 2 of 2001 and Circular No 5 of 2002. One of the most important aspects of this regulatory framework is ensuring that listed companies transmit the copies of notices of AGM/EOGM to the SECP on the same date on which the notices are issued to the shareholders. Till now the listed companies were required to do so through fax.-PR
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