Jahangir Siddiqui and Company Limited’s notice of annual general meeting

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Karachi: Please find enclosed a copy of the Notice of Annual General Meeting to be held on October27, 2011 for circulation amongst your members.

Notice of Meeting

Notice is hereby given that the Twentieth Annual General Meeting of Jahangir Siddiqui and Co. Ltd. (the “Company”) will be held at Regent Plaza Hotel and Convention Centre, Main Shahrah-e-Faisal, Karachi on Thursday, October 27, 2011 at 12:45 p.m. to transact the following business:

Ordinary Business

1. To receive and consider the audited financial statements of the Company £ or the year ended June 30, 2011 together with the Directors’ and Auditors’ Reports thereon.

2. To appoint the Auditors for the ensuing year and fix their remuneration.

Special Business

To explain the reasons for not making investment in an associated undertaking after the Company obtained approval of the shareholders by Special Resolution at previous general meeting held on November 24, 2007 under Section 208 of the Companies Ordinance, 1984 and to indicate major change in financial position of the pertinent associated undertaking in compliance with the SRO 865(1)/ 2000dated December 06, 2000.

4. To transact any other business with the permission of the Chair.

 

S. No.	Name of Company	Meeting in millions	Date	Amount      Reasons for not making
1.	JS Value Fund Ltd.		November 24, 2007	Investment 175 The Directors considered prudent to defer the investment due to the adverse economic and investment climate.
				However, the proposed investment will be made at an appropriate time in the best interest of the shareholders of the Company.

 

 

The changes in financial position of JS Value Fund Ltd. are given below:

JS Value Fund Ltd.

 

S. No.	Description under Section 208	At the time of Approval	Present Status
1.	Average Market Price of the shares intended to be subscribed during preceding six months.	PKR 13.21 per share (based on October 31, 2007)	PKR 5.22 per share (based on June 30, 2011)
2.	Break-up value of shares	PKR 18.44 per share	PKR 10.17 per share
		(September 30, 2007)	(based on June 30, 2011)
3.	Earnings / (Loss) per share of the investee
	company:
	June 30, 2005	PKR 1.24 per share
	June 30, 2006	PKR 4.42 per share
	June 30, 2007	PKR 5.55 per share
	June 30, 2009	–	PKR (10.94) per share
	June 30, 2010	–	PKR (0.98) per share
	June 30, 2011	–	PKR 2.20 per share

 

The interest of the Directors and Chief Executive of the Company is limited to their being directors and shareholders of the Company as already notified previously to the shareholders.

For more information, contact:
Farah Qureshi
Company Secretary
Jahangir Siddiqui and Company Limited
6th Floor, Faysal House,
Shahra-e-Faisal
Karachi-75530, Pakistan
Web: www.js.com
UAN: +92 21 111 574 111
Ph: +92 21 3279 9556
Fax: + 92 21 3280 0090