Karachi, Pak Elektron Limited, a prominent manufacturer of electrical equipment, has announced the closure of its transfer books for one day on April 29, 2024. The closure will facilitate the annual general meeting (AGM) scheduled to start at 11:00 AM on the same day. Shareholders are advised to complete any required transfers before this date to ensure their participation in the AGM.
Saif Power Limited Announces Book Closure for Dividend Distribution
Islamabad, Saif Power Limited has declared the closure of its transfer books from April 19, 2024, to April 29, 2024, for the upcoming dividend disbursement. The dividend will be distributed on April 29, 2024, at 11:00 AM. This schedule was confirmed following the announcement on the Pakistan Stock Exchange.
East West Insurance Co. Ltd. to Close Transfer Books for Midday Event
Karachi, East West Insurance Co. Ltd. has scheduled a brief closure of its transfer books on April 30, 2024, in conjunction with a midday event starting at 11:30 AM. The company, aiming for efficient shareholder engagement, has planned this meeting to address pertinent matters, ensuring all shareholder records are temporarily paused to facilitate the proceedings.
Chenab Limited Plans Morning Meeting with Temporary Book Closure
Faisalabad, Chenab Limited has announced a temporary closure of its transfer books on April 15, 2024, at 11:30 AM. The scheduled meeting at this time points to the company's intent to engage shareholders in swift and efficient deliberations, aiming to resolve key issues without prolonged disruption.
Bata Pakistan Ltd Schedules Transfer Books Closure
Karachi, Bata Pakistan Ltd has planned a one-day closure of its transfer books on April 24, 2024. The closure will start at 10:00 AM. The company has not indicated any associated distribution of dividends or bonus shares during this period.
JS Global Capital Limited Announces Closure of Transfer Books
Karachi, JS Global Capital Limited has scheduled the closure of its transfer books for one day on April 25, 2024, starting at 8:45 AM. The closure corresponds with the company's upcoming financial events. The company has not announced any dividends, bonuses, or rights issues associated with this date.
Atlas Insurance Limited Announces Dividends and Director Elections in Annual General Meeting
Karachi, Atlas Insurance Limited convened its 89th Annual General Meeting (AGM) on April 15, 2024, where several key resolutions were passed, including the approval of the previous year’s financial statements and dividends, as well as the election of directors for a new term. The meeting, led by the company's executives, adhered to the agenda set forth for ordinary and special business items.
Members confirmed the minutes from the last AGM held on April 27, 2023. They also approved the audited financial statements for the year ended December 31, 2023, which included both the auditors' and directors' reports.
A significant financial decision was the approval of the final cash dividend of Rs. 3.00 per share, with an interim cash dividend of Rs. 1.60 per share previously declared and paid, totaling Rs. 4.60 per share. Additionally, a 60% interim bonus issue, which had been announced and disbursed during 2023, was confirmed, ratified, and approved.
The AGM also saw the election of several directors for the coming three-year term. Elected officials include Mr. Iftikhar H. Shirazi, Mr. Ali H. Shirazi, Mr. Frahim Ali Khan, Mr. M. Habib-ur Rahman, Mr. Hasan Reza ur Rahim, Mrs. Roohi Raees Khan, and Mr. Babar Mahmood Mirza.
BDO Ebrahim & Co, Chartered Accountants, were appointed as the company’s auditors for the fiscal year ending December 31, 2024, with their remuneration set by the Board of Directors.
In special business, the resolution to consolidate and sell fractional bonus shares from the interim bonus issued at 60% during 2023 was approved. The proceeds from these sales are to be donated to a charitable institution approved under the Income Tax Ordinance, 2001.
Additionally, the AGM approved the transmission of annual audited financial statements to members through QR-enabled code and web link, replacing older methods such as CD, DVD, or USB. This move aligns with directives from the Securities and Exchange Commission of Pakistan (SECP).
Related party transactions with Atlas Foundation and Atlas Asset Management Limited during the year 2023 were ratified and approved for continuation through the year ending December 31, 2024.