Punjab Oil Mills Introduces Electronic Voting and Postal Ballot for Special Business at Extraordinary General Meeting

Karachi, Punjab Oil Mills Limited has implemented a new voting procedure for its Extraordinary General Meeting, allowing members to participate through electronic voting and postal ballot on special business items. This initiative is in accordance with the Companies (Postal Ballot) Regulations, 2018, as amended through a notification from the Securities and Exchange Commission of Pakistan (SECP) on December 5, 2022.

The SECP has directed all listed companies to provide members with the right to vote on special business items through electronic voting and postal ballot. In compliance with this directive, Punjab Oil Mills Limited is enabling its members to exercise their voting rights via electronic voting facility or voting by post for the forthcoming Extraordinary General Meeting scheduled for June 24, 2023.

By introducing the electronic voting facility and postal ballot, Punjab Oil Mills aims to enhance member participation and ensure a transparent and inclusive voting process. Members will have the opportunity to vote on special business matters through a secure electronic platform or by submitting their votes through the postal ballot system.

The implementation of these voting options aligns with the requirements and conditions outlined in the Companies (Postal Ballot) Regulations. It provides an accessible and convenient method for members to cast their votes, enabling broader participation and strengthening corporate governance practices.