ISLAMABAD: The Annual General Meeting (AGM) of K-Electric Limited (KEL) is scheduled to be held on October 26, 2022, which is expected to deliberate sale of stakes of KES to Sheryar Chishti, who owns M/s Dawoo in Pakistan, well informed sources told Business Recorder.
KE’s Chief Risk Officer & Company Secretary, Rizwan Pesnani, has sent form of proxy to Government of Pakistan (GoP) which is required to be filled and executed to ensure quorum and representation of GoP in the AGM.
According to the company, the ordinary business of the AGM will be as follows: (i) to adopt minutes of the AGM held on October 13, 2021; and (ii) to adopt minutes of the Extraordinary General Meeting (EOGM) held on July 29, 2022. In addition, the AGM will receive, consider and adopt the Annual Unconsolidated and Consolidated Audited Financial Statements of the company (with the Director’s and Auditor’s reports) for the financial year ended June 30, 2022.
The AGM will approve appointment of External Auditor for FY 23 and fixation of their remuneration besides any other business with the permission of the chair.
The share transfer books of the company for the purpose of attending and voting at AGM, will remain closed from October 20, 2022 to October 26, 2022 (both days inclusive).
In case of individuals, the account holders or sub-account holders, whose registration details are uploaded as per the regulations who shall authenticate his/ her identity by showing his/ her original CNIC or original passport at the time of attending the meeting.
A member entitled to attend and vote at the meeting may appoint a proxy in writing to attend the meeting and vote on the Members’ behalf. A proxy must be a member of the company. KE’s Company Secretary has urged the intending participants that duly completed forms of proxy must be deposited with him at the KE Corporate Affairs Department no later than 48 hours before the time fixed for the meeting.
Copyright Business Recorder, 2022
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