TPL Trakker Limited Announces Upcoming Extraordinary General Meeting in Karachi

Karachi, TPL Trakker Limited has scheduled an Extraordinary General Meeting (EOGM) for June 21, 2024, to be held at the PSX Auditorium, Karachi. The meeting will address several key issues, including the approval of the minutes from the previous Annual General Meeting and significant amendments to director remuneration and a loan agreement with subsidiary Trakker Middle East L.L.C. According to information available from the Pakistan Stock Exchange (PSX), the agenda includes the approval of minutes from the Annual General Meeting held on October 23, 2023. Additionally, a special resolution will be considered to increase the remuneration for non-executive directors from PKR 100,000 to PKR 120,000 per meeting.

Another critical agenda item involves amending the loan agreement with Trakker Middle East L.L.C., potentially converting a substantial loan into equity shares. This move involves converting outstanding loans and other liabilities amounting to Rs. 661,094,368 into 8,727 equity shares. Furthermore, provisions for electronic participation and voting at the EOGM have been established, allowing shareholders to partake via electronic means. Shareholders are required to register their attendance electronically 48 hours before the meeting, with the share transfer books of the company closing from June 14 to June 21, 2024.