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NOTICE OF SIXTEENTH ANNUAL GENERAL MEETING OF
SAUDI PAK REAL ESTATE LIMITED |
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Notice is hereby given that the Sixteenth (16th) Annual General Meeting of Saudi Pak Real Estate Limited will be held on Friday, fourteenth (14th) day of April, 2023 at 10:30 am at 19th Floor, Saudi Pak Tower, 61-A, Jinnah Avenue, Islamabad in order to consider and approve the following: |
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Ordinary Business:
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To confirm minutes of the fifteenth (15th) Annual General Meeting held on April 15, 2022.
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To receive, consider and adopt the Audited Financial Statements of the Company for the year ended December 31, 2022 together with the Auditor's and Director's Reports thereon.
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To appoint Auditors of the Company for the year ending December 31, 2023 and to fix their remuneration. Grant Thornton Anjum Rehman Chartered Accountants being eligible have shown their consent to be appointed as External Auditors of Saudi Pak Real Estate Limited.
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To consider and approve the final cash dividend @5% of the paid-up capital of the Company (Rs.0.5 per ordinary share of Rs.10 each) for the year ended December 31, 2022, as recommended by the Board of Directors of the Company.
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To elect four (4) Directors of the Company as fixed by the Board, for a period of three years commencing from April 17, 2023 in accordance with the provision of Section 159 of the Companies Act, 2017. The following are the retiring Directors:
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Mr. Rizwan Ahmed |
Director |
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Mr.Fateh Tariq |
Director |
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Mr. Yawar Khan Afridi |
Director |
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Syed Safdar Abbas Zaidi |
Director |
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Special Business
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To consider and approve the Alteration of the Articles of Association of the Company: -
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Article 53 of the Articles of Association of the Company is proposed to be substituted by the following by passing a resolution as a special resolution: -
"RESOLVED THAT Article 53 of the Articles of Association of the Company be and is hereby substituted to read as, "Qualification of Directors: Save as provided in Section 153, no person shall be appointed as a Director unless he is a member of the Company. A Director shall not require any share qualification."
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Article 13 of the Articles of Association of the Company is proposed to be amended by passing a resolution as a special resolution: -
"RESOLVED THAT Article 13 of the Articles of Association of the Company be and is hereby amended, following new proviso is added at the end, namely:
"Provided that if the shares are in book entry form or in case of conversion of physical shares and other transferable securities into book-entry form, the company shall, within ten days after an application is made for the registration of the transfer of any shares or other securities to a central depository, register such transfer in the name of the central depository."
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Any other Business:
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To transact any other business with the permission of the Chair.
You are requested to kindly make it convenient to attend the meeting.
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By order of the Board
Mian Faisal Ashraf
Company Secretary
Registered Office:
19th Floor, Saudi Pak Tower, 61-A, Jinnah Avenue, Islamabad.
Dated: March 23, 2023
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| Note: |
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| A member entitled to attend and vote at the Annual General Meeting may appoint another member as his/her proxy, except a corporation being a member may appoint as its proxy any officer of such corporation whether a member of the Company or not, to attend and vote in his/her place. Proxies in order to be effective, must be received at the Registered Office not later than forty-eight hours before the time for holding the meeting and must be duly signed and witnessed. |
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| Saudi Pak Industrial and Agricultural Investment Co. Ltd. |
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| Mr. Rizwan Ahmed |
Director/Chairman |
| Mr. Fateh Tariq |
Director |
| Syed Safar Abbas Zaidi |
Director/Chairman Audit Committee |
| Mr. Yawar Khan Afridi |
Director |
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| C.C. M/s Grant Thornton Anjum Rehman Chartered Accountants |
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