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Karachi, Indus Dyeing & Manufacturing Company Limited has announced that the upcoming Extra Ordinary General Meeting (EOGM) will be held on June 15, 2023, using a postal ballot system. This unique method allows shareholders to cast their votes remotely, ensuring inclusivity and convenience.
Shareholders of the company, whether individuals or joint shareholders, are advised to request the necessary ballot paper by contacting the Chairman at Karachi. The Chairman’s designated email address, corporate.affairs@indus-group.com, can also be used for correspondence related to the postal ballot.
Shareholders are requested to provide their registered addresses, the number of shares held, folio numbers, and attach a copy of their CNIC (Computerized National Identity Card) to the ballot paper request. In the case of representatives of body corporates, corporations, and the Federal Government, additional information and enclosures should be provided.
The Special Resolutions to be voted on through the postal ballot are as follows:
1. Resolved: The Authorized Capital of the Company shall be increased from Rs. 1,000,000,000/- (Rupees One Billion Only) to Rs. 25,000,000,000/- (Rupees Twenty Five Billion Only).
2. Further Resolved: As a consequence of the increase in the authorized share capital, the existing Clause V of the Memorandum of Association and Article 5 of the Articles of Association of the Company shall be replaced/substituted accordingly.
The revised Clause V and Article 5 will state that the Authorized Share Capital of the Company is Rs. 25,000,000,000/- (Rupees Twenty Five Billion), divided into 2,500,000,000 (Twenty Five Hundred Million) Ordinary Shares of Rs. 10/- each. The Company will retain the power to increase, reduce, subdivide, consolidate, or reorganize its capital and divide the shares into several classes.
Shareholders are requested to mark their assent or dissent for each Special Resolution on the provided ballot paper and return it via post to the company’s address mentioned above.
The use of postal ballots not only ensures a democratic voting process but also allows shareholders who are unable to physically attend the EOGM to exercise their voting rights. The decision to adopt this method reflects the company’s commitment to transparency and inclusivity in corporate governance.
The deadline for returning the postal ballots is prior to the scheduled EOGM on June 15, 2023. Shareholders are encouraged to participate actively in shaping the future of Indus Dyeing & Manufacturing Company Limited by casting their votes on these crucial resolutions.