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Karachi: This is to inform you that the 39th Annual General Meeting of the Company will be held on Monday, October 31, 2011 at 11.00 AM at 120-B/1, Gulberg-III, Lahore the Registered Office of the Company for consideration and approval of Annual Accounts of the Company for the Year ended June 30, 2011 (Notice of AGM is attached herewith).
Notice of Annual General Meeting
Notice is hereby given that the 39th Annual General Meeting of thy Shareholders of Hala Enterprises Limited will be held on Monday October 31, 2011 at 11:00 A.M. at 120-E/1 Gulberg-III, Lahore the Registered Office of the Company, to transact the following business.
Ordinary Business
1. To confirm minutes of Extra-Ordinary General Meeting held on April 12, 2011.
2. To receive and adopt the Annual Audited Accounts of the Company for the year ended June 30, 2011 alongwith Directors and Auditors Reports thereon.
3. To appoint Auditors of the Company for the year ending June 30, 2012 and to fix their remuneration.
Special Business
4. To consider and approve the remuneration of Director of the Company.
5. Any other business with the permission of the Chair.
A Statement tinder Section 160(i)(b) of the Companies Ordinance, 1984 in respect of special business alongwith proposed resolution is being sent to the shareholders with this notice.
Notes:
1. The Share Transfer Books of the Company will be closed from October 24, 2011 to October 31, 2011 (both days inclusive).
2. A member entitled to attend and vote at this meeting may appoint another member as his/her proxy to attend and vote for him/her. Proxies in order to be effective, must be received at the Registered Office of the Company not later than 48 hours before the time of holding the meeting and must be duly stamped, signed and witnessed.
3. CDC shareholders desiring to attend the meeting are requested to bring theft computerized original National Identity Card, Account and participant’s ID numbers, for identification purpose and in case of proxy, to enclose an attested copy of his/her National Identity Card as per guidelines laid down in Circular No. 1 dated January 26, 2000 issued by SECP.
4. Members are requested to notify the Company of any change in their addresses, if any.
Statements of Material Facts Under Section 160(i)(b) of the Companies Ordinance, 1984.
This statement set out the material facts concerning the “Special Business” to be transacted at the 39th Annual General Meeting of the Company to be held on October 31, 2011.
The approval of the members will be sought for;
Item No. 4 of the Agenda:
As required by Section 218 of the Companies Ordinance, 1984, the remuneration of Executive Directors.
The Board of Directors of Hala Enterprises Limited in their meeting held on October 28, 2010 appointed Mr. Arshad Javed as Executive Director in place of Mr. Andrew McMullen out going Executive Director Mr. Arshad Javed is already serving as General Manager Factory since August 2008.
Shareholders are informed that the remuneration of Mr. Arshad Javed will be the same as drawing in the capacity of General Manager Factory of the Company.
The members are accordingly requested to pass with or without modification, the following resolution as a Special Resolution:
“RESOLVED THAT approval be and is hereby given to pay monthly remuneration as sum of Rs, 120,000/- alongwith other benefits as company policy payable to Mr. Arshad Javed, Executive Director with effect from November 01, 2010, while other terms and conditions of the service will remain unchanged.
FURTHER RESOLVED that no change in remuneration of other Directors; including Chief Executive of the Company”.
The information under section 218 of the Companies Ordinance, 1984 is annexed herewith this report as Annexure “A”.
To All Shareholders of the Company
Dear Shareholders,
Information under section 218 of the Companies Ordinance, 1984
In pursuance of Section 218 of the Companies Ordinance, 1984, you are hereby informed that the remuneration of the Chief Executive and Directors of your Company is as follows.
| Name and Destination | Last Drawing | Increase | Current Salary | Yearly |
| Mr. Tahir Jahangir | Rs. 48,000/- | Nil | Rs. 48,000/- | Rs. 576,000/- |
| Chief Executive | ||||
| Mr. Jillani Jahangir Director | Rs. 70,000/- | Nil | Rs. 70,000/- | Rs. 840,000/- |
| Mr. Arshad Javed Director | Rs.120,000/- | Nil | Rs.120,000/- | Rs.1,440,000/- |
| Mr. Abdul Munaf Director | Rs. 45,000/- | Nil | Rs. 45,000/- | Rs. 540,000/- |
The above remuneration shall be subject to such adjustments, bonuses arid other entitlements as may be granted at any time and from time to time by the Board of Directors of the Company and/or in accordance with the policies and the service rules of the Company for the time being in force.
For more information, contact:
Rana Shakeel Shaukat
Company Secretary
Hala Enterprises Limited
120-B/1,
Gulberg-III,
Lahore
Ph: 92-4235761585-5
Fax: 92-42-35710235