AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Engro Fertilizers Limited has made an announcement regarding the provision of postal ballots and electronic voting for its Annual General Meeting (AGM) scheduled on March 26, 2024. In adherence to the Companies (Postal) Ballot Regulations, 2018, the company has published the ballot papers in two leading newspapers, the Business Recorder (in English) and Nawa-i-Waqt (in Urdu), ensuring the shareholders are well-informed and can participate effectively in the voting process.
The electronic voting facility, as mandated by Regulation 4 of the same regulations, will be available to all eligible company members, aligning with the applicable legal framework. This move facilitates broader participation by allowing shareholders to cast their votes without being physically present at the AGM venue.
The AGM is set to be held at the Karachi School of Business and Leadership (KSBL), located at National Stadium Road, opposite Liaquat National Hospital, Karachi. The meeting will also be accessible through video conferencing, ensuring inclusivity and adherence to modern corporate governance standards. Shareholders are encouraged to send their completed postal ballots to the Chairman of Engro Fertilizers Limited at the specified address in Clifton, Karachi by March 25, 2024, at 3:00 p.m. to ensure their votes are counted.
Among the key resolutions to be voted on is the approval for circulation of the company’s annual report through a weblink and QR enabled code, as well as a special resolution regarding the extension of an intercompany loan to Engro Polymer & Chemicals Limited. This demonstrates the company’s commitment to transparency, efficiency, and strategic financial planning.
Engro Fertilizers has appointed M/s. A. F. Ferguson & Co. as the scrutineer for the special resolution, reflecting its dedication to maintaining the highest standards of integrity and fairness in the voting process. Shareholders are reminded to ensure their ballots are correctly filled and accompanied by a copy of their CNIC to validate their votes.