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Karachi: The Securities and Exchange Commission of Pakistan has allowed us an extension and directed us under Section 170 of the Companies Ordinance, 1984 to convene the 17th Annual general Meeting of the Company for the calendar year 2011 until 29th February 2012 as evidence by the enclosed copy of the SECP ‘s letter No. EMD/233/638/2002-979, dated 11th January 2012.
A copy of the aforementioned letter is enclosed, as required.
Direction Under Section 170 of the Companies Ordinance, 1984
This is with reference to your application dated January 10, 2012 seeking extension in time i.e. till February 29, 2012 for holding the Annual General Meeting (AGM) of BYCO Petroleum Limited, (the Company) for the Year Ended June 30, 2012. Earlier upon Company’s last request it was, vide this office letter dated November 24, 2011, directed hold its aforesaid AGM up to January 31, 2012.
2. It has been Submitted now that the Company is still not in a position to hold its overdue AGM due to engagements of some of its directors abroad till end of January 2012. Accordingly request has been made for allowing further extension for holding 17th AGM till 29th February 2012.
3. In view of above you are hereby directed under Section 170 of the Companies Ordinance, therein the audited accounts, transact other business as required under the law and thereafter submit minutes and the audited accounts so approved.
4. Please note that this direction shall be without prejudice to the penal and civil consequence o the defaults already made by the Company and its management in complying with the provisions of Section 158 and 233 of the Ordinance.
For more information, contact:
Ali Azeem Ikram
Head of Department – Enforcement
Byco Petroleum Pakistan Limited
The Harbour Front, 9th Floor,
Dolmen City, HC – 3, Block – 4,
Marine Drive, Clifton, Karachi – 75600, Pakistan
UAN: (92 21) 111 222 081
Fax: (92 21) 111 888 081
Web: www.byco.com.pk