Kohinoor Mills Implements Electronic Voting and Postal Ballot for Special Business at Extraordinary General Meeting

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Karachi, Kohinoor Mills Limited has announced the implementation of electronic voting and voting through postal ballot for special business at its upcoming Extraordinary General Meeting. This decision comes in compliance with the Companies (Postal Ballot) Regulations, 2018, as amended by the Securities and Exchange Commission of Pakistan (SECP).

Scheduled for Tuesday, June 20, 2023, the Extraordinary General Meeting will provide all members of the company with the opportunity to exercise their voting rights through electronic means or by post. The move is aimed at ensuring greater convenience and participation for the members.

To facilitate the process, a ballot paper has been attached to the notification and can also be downloaded from the company’s official website, www.kohinoormills.com. Members are encouraged to familiarize themselves with the voting procedure in advance.

The agenda for the meeting includes two key items. Firstly, members will vote on a resolution proposing an increase in the authorized share capital of the company from PKR 2,500,000,000/- to PKR 5,000,000,000/-. This increase involves dividing the capital into 470,000,000 ordinary shares and 30,000,000 preference shares, each with a nominal value of PKR 10/-.

The second agenda item pertains to the dissemination of the company’s annual audited financial statements. Members will consider adopting a special resolution that supports transmitting these statements through QR enabled codes and web links, replacing the traditional methods of CD/DVD/USB distribution. This move aligns with technological advancements and the SECP’s notification (SRO 389 (I)/2023) dated March 21, 2023, emphasizing the need to embrace more efficient means of communication.

The Extraordinary General Meeting will take place at District Kasur, and members are encouraged to participate actively in shaping the future of Kohinoor Mills Limited by casting their votes through the provided electronic voting facility or postal ballot.