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Lahore: Sui Northern Gas Pipelines Limited (SNGPL) is set to hold its 59th Annual General Meeting (AGM) on August 21, 2024, at the Pearl Continental Hotel in Lahore. The meeting agenda includes confirming previous meeting minutes, adopting the annual audited accounts for the fiscal year ended June 30, 2023, and deciding on a proposed cash dividend of Rs. 4.50 per share.
According to information available from the Pakistan Stock Exchange (PSX), the AGM will also see the appointment of external auditors and the fixing of their remuneration for the upcoming fiscal year. Shareholders will transact ordinary business under the chairmanship, with the option to participate either in person or through electronic means as encouraged by recent guidelines from the Securities and Exchange Commission of Pakistan (SECP).
The company’s share transfer books will be closed from August 14 to August 21, 2024, with eligibility for dividend payments and meeting participation set by the register of members as of the close of business on August 13, 2024.
SNGPL has emphasized the importance of participation through electronic facilities, providing options for shareholders to register for digital attendance. Additionally, proxy voting will be available, requiring proper authentication and submission in line with SECP’s regulations.
The AGM will also cover the mandatory deduction of income tax from dividends, adherence to updated shareholder information requirements, and the conversion of physical shareholdings to book-entry form, which aligns with SEC directives to enhance trading security and shareholder convenience.