Saudi Pak Leasing Company Limited Issues Corrigendum to Notice of 33rd AGM, Sets New Date for Meeting

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Karachi, in a crucial update for its shareholders, Saudi Pak Leasing Company Limited has issued a corrigendum to the Notice of the 33rd Annual General Meeting (AGM), originally scheduled for October 12, 2023. The notice clarifies important details about the meeting and presents a revised date.

The initial notice for the AGM was published on September 15, 2023, in both the Juraat (Urdu) and the Nation (English) newspapers, and individually sent to all shareholders at their available addresses. A subsequent corrigendum to the notice was published on September 22, 2023, providing further information.

However, the Board of Directors has now made the decision to reschedule the Annual General Meeting to October 17, 2023, maintaining the same time and venue as previously notified.

One of the critical aspects of this AGM will be the consideration of amendments proposed by the board in response to the company’s current situation in light of a Show cause notice for winding up issued by the Securities and Exchange Commission of Pakistan (SECP). These proposed amendments will be addressed under agenda item No. 4 in the Special Business section of the meeting.

Agenda Items for the 33rd AGM:

Special Business (Proposed Amendments):

To confirm the minutes of the Annual General Meeting (AGM) held on October 26, 2022.

To receive, consider, and adopt the Audited Accounts for the fiscal year ending on June 30, 2023, along with the Directors’ and Auditors’ reports, as approved by the Board of Directors.

To appoint M/s. UHY Hassan Naeem & Co, Chartered Accountants (UHY International Independent Member), as the External Auditors for the fiscal year 2023-2024 and determine their remuneration, following the recommendation of the Board of Directors.

This rescheduling of the AGM highlights the company’s commitment to ensuring that all shareholders have ample opportunity to participate and deliberate on matters crucial to Saudi Pak Leasing Company Limited’s future. The amendments proposed by the board underscore the company’s efforts to address the current challenges it faces and seek approval from its shareholders for necessary actions.

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