KOT ADDU POWER COMPANY TO AMEND ARTICLES AT EXTRAORDINARY GENERAL MEETING

Islamabad: Kot Addu Power Company Limited has scheduled its 12th Extraordinary General Meeting (EGM) for October 2, 2024, which will be held in Islamabad and available via video-link. The meeting is set to focus on significant amendments to the company’s Articles of Association and the election of new directors.

The primary agenda includes confirming the minutes from the Twenty Seventh Annual General Meeting held on October 24, 2023. Key special business items to be addressed involve proposed amendments to the Articles of Association, specifically the deletion of Article 41(i) and the modification of Article 52.1 to adjust the minimum number of directors from seven, subject to legal requirements, and to establish the timing for fixing the number of elected directors ahead of general meetings.

According to information available from the Pakistan Stock Exchange (PSX), these changes are designed to streamline governance and adapt to current legal frameworks. Furthermore, the meeting will also include the election of eight directors, as determined by the board under Section 159(1) of the Companies Act, 2017. The directors up for election include Lt. General (Retd) Sajjad Ghani, Mr. Aqeel Ahmed Nasir, Mr. Hafiz Mohammad Yousaf, Mr. Saad Iqbal, Mr. Naveed Asghar Chaudhry, Mr. Jamil Akhtar, and Ms. Mahwish Humayun Khan.

This EGM underscores Kot Addu Power Company’s commitment to compliance and robust corporate governance as it seeks to align its operational directives more closely with current regulatory expectations and shareholder interests.

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