Universal Network Systems Limited Granted 30-Day Extension for Annual General Meeting

Karachi, In a recent development, M/s. Universal Network Systems Limited has been granted a 30-day extension to convene and hold its Annual General Meeting (AGM) for the year ending June 30, 2023. The extension has been approved by the regulatory authority in accordance with the Companies Act, 2017.

The company’s request for an extension was based on Section 132 and Section 223 of the Companies Act, 2017, which allow for an extension in the time for holding the AGM and presenting audited financial statements. The extension will enable Universal Network Systems Limited to schedule their AGM at the earliest, with a deadline of November 27, 2023, to lay out the financial statements for shareholders’ consideration.

This decision, approved by the competent authority, provides Universal Network Systems Limited with the necessary flexibility to ensure compliance with regulatory requirements and conduct a thorough AGM. It also emphasizes the importance of adhering to the Companies Act, 2017, while granting the extension without prejudice to any potential actions that the Commission may take in case of non-compliance with the Act.

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