Pakistan Oxygen Limited Announces 75th Annual General Meeting Schedule and Agenda

Karachi, Pursuant to Regulations # 5.6.9(h) of the Pakistan Stock Exchange Regulations, Pakistan Oxygen Limited has announced that its 75th Annual General Meeting (AGM) will take place on Thursday, April 25, 2024. The meeting is scheduled to occur at 2:00 p.m., available virtually via Video Link Facility and in person at the company’s Registered Office located at West Wharf, Dockyard Road, Karachi. This announcement is ahead of the notice’s publication in one issue of each of a daily newspaper in English and a daily newspaper in Urdu on April 3, 2024, as per the requirements of Section 132(3) of the Companies Act, 2017.

The agenda for the AGM includes the reception and consideration of the Financial Statements of the company for the year ended December 31, 2023, along with the Reports of the Directors and Auditors. Additionally, the appointment of external Auditors and the determination of their remuneration are on the schedule as part of the ordinary business to be conducted.

Among the special business items to be addressed is the proposed amendment of the Articles of Association of the company. This amendment involves substituting the existing Article 129 with a new article enabling the company, upon the Directors’ recommendation and approval, to capitalize any part of the amount standing to the credit of the company’s reserve accounts or profit and loss account, for distribution amongst the members in non-cash forms such as shares or debentures.

Furthermore, the AGM will deliberate on approving the circulation of the annual balance sheet, profit and loss account, auditor’s report, and directors report through QR-enabled code and web link. This method of distribution is in lieu of the traditional transmission formats such as CD/DVD/USB, aligning with S.R.O. 389(I)/2023 issued by the Securities and Exchange Commission of Pakistan dated March 21, 2023.

Members of Pakistan Oxygen Limited are provided with a statement as required under Section 134(3) of the Companies Act, 2017, regarding the special businesses to be considered at the AGM, annexed with the Notice of Meeting.