SME Leasing Limited Announces Election of Directors at Upcoming EGM in Islamabad

Islamabad: SME Leasing Limited has scheduled its 9th Extraordinary General Meeting (EOGM) for shareholders on 17 August 2024 at the SME Bank Limited Head Office. The primary agenda includes the election of three new directors and confirmation of the previous meeting’s minutes.

The company, which recently held its 22nd Annual General Meeting on 22 July 2024, is set to elect directors for a three-year term starting from 17 August 2024. This decision follows the Companies Act, 2017’s stipulations. The current board, including two nominated directors from SME Bank Limited, will retire on the same day. The board has predetermined the post-election board size to seven members as established on 20 June 2024.

According to information available from the Pakistan Stock Exchange (PSX), the EOGM will also allow shareholders to handle additional business as permitted by the chairperson. This includes provisions for shareholders to join the meeting electronically, reflecting compliance with the Company’s digital participation initiatives from circulars issued in 2021.

Further, shareholders can submit comments on agenda items to the Company Secretary via email up to two working days before the EOGM. The registration for electronic attendance will commence 48 hours prior to the EOGM, with a login facility available half an hour before the meeting starts to facilitate identification and verification processes.

SME Leasing Limited has also outlined the procedure for contesting director elections, requiring potential candidates to submit necessary documents 14 days before the EOGM. These include a notice of intention, consent to act as a director, and a comprehensive declaration of compliance with regulatory requirements.

The meeting’s significance is heightened by the strategic roles these directors will assume, influencing the company’s governance and strategic direction amid evolving market challenges.