Allied Bank Limited Announces Extraordinary General Meeting for Director Elections and Business Transactions

Lahore: Allied Bank Limited (ABL) has scheduled an Extraordinary General Meeting (EOGM) for August 27, 2024, to be held both physically in Lahore and virtually via Zoom, where shareholders will elect seven directors and transact additional business.

The EOGM will focus on confirming the minutes from the 78th Annual General Meeting held on March 28, 2024, and electing directors for a three-year term starting August 27, 2024. The board will include eight members, with the Chief Executive Officer serving as a deemed director. Retiring directors eligible for re-election include Mohammad Naeem Mukhtar, Sheikh Mukhtar Ahmad, Muhammad Waseem Mukhtar, Abdul Aziz Khan, Nazrat Bashir, Zafar Iqbal, and Mubashir A. Akhtar, pending approval from the State Bank of Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), shareholders will also discuss other business with the chair’s permission during the meeting. Share Transfer Books of the Bank will be closed from August 20 to August 27, 2024. The bank has issued guidelines for shareholders planning to attend the meeting or appoint proxies, with detailed instructions provided for both physical and virtual attendance.

Additionally, Allied Bank has emphasized the importance of depositing proxy forms at least 48 hours before the meeting and adhering to guidelines for electronic voting and postal ballots for elections, as specified by the Companies Act 2017 and related regulations.

The notice also highlights the bank’s compliance with regulatory requirements for shareholder registration and the conversion of physical shares into book-entry form, underscoring the commitment to streamlined shareholder engagement and the facilitation of secure transactions.

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