Category: Company News

Karachi, Feroze1888 Mills Limited, a leading textile manufacturing company, announced that its Board of Directors has approved the Annual Budget for the fiscal year 2023-24. The decision was made during a board meeting held on July 6, 2023, in Karachi.

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Karachi, MCB-Arif Habib Savings and Investments Limited has announced that a crucial meeting of the Board of Directors will be convened on July 26, 2023, in Karachi. The purpose of the meeting is to review and consider the Annual Accounts for the period ended June 30, 2023, with a focus on potential entitlements for shareholders.

During the meeting, the Board of Directors will thoroughly assess the financial performance and statements of MCB-Arif Habib Savings and Investments Limited for the mentioned period. The discussion will revolve around determining any entitlements that can be declared for the benefit of the shareholders.

To comply with regulatory requirements and ensure fair and transparent proceedings, the company has declared a "Closed Period" from July 14, 2023, to July 26, 2023. As per Clause 5.6.1(d) of the PSX Regulations, this period prohibits any Director, CEO, or Executive from engaging in any form of share dealing related to MCB-Arif Habib Savings and Investments Limited during the Closed Period.

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Karachi, In a recent development, United Bank Limited (UBL) announced the cancellation of the adjourned Extraordinary General Meeting (EOGM) of its shareholders, which was scheduled to take place on July 17, 2023. The decision was made by the UBL Board of Directors following their withdrawal of the resolutions passed on June 1, 2023, regarding the increase in Authorized Share Capital of UBL and relevant amendments in the Memorandum and Articles of Association of the bank.

Previously, on June 22, 2023, UBL had informed its shareholders about the adjournment of the EOGM held on that date, stating that it would be rescheduled for July 17, 2023. However, the recent decision by the Board of Directors led to the cancellation of the adjourned EOGM altogether.

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Karachi, In an extraordinary general meeting held on July 7, 2023, at Islamabad, the shareholders of EFU General Insurance Limited passed and adopted several resolutions, including the election of directors. The meeting, which was convened to discuss the ordinary business matters of the company, witnessed the smooth election process as the number of candidates offering themselves for election matched the number of directors to be elected.

Under section 159(1) of the Companies Act, 2017, the Board of Directors had previously fixed the number of directors to be elected. Since the count of candidates corresponded exactly to the required number, the shareholders resolved that the seven individuals who expressed their willingness to serve as directors be elected. These seven newly elected directors will hold their positions for a term of three years starting from July 10, 2023.

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Karachi, Samba Bank Limited (SBL) convened its 116th Board of Directors meeting on July 05, 2023, utilizing video conferencing technology (Webex), to discuss non-financial matters. During the meeting, no announcement was made regarding the dissemination of any price-sensitive information that may impact the market price of the company's shares.

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Karachi, United Brands Limited has announced that a crucial meeting of its Board of Directors is scheduled to take place on July 11, 2023, in Karachi. The primary agenda of the meeting is to discuss and finalize the number of directors to be elected for the upcoming three-year term.

In adherence to the regulations outlined in Clause 5.6.1(d) of the PSX Regulations, the company has declared a "Closed Period" starting from July 5, 2023, and extending until July 11, 2023. During this period, no director, CEO, or executive associated with United Brands Limited will be permitted to engage in any direct or indirect dealings involving the company's shares.

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Karachi, Hinopak Motors Limited has announced that its 38th Annual General Meeting (AGM) will take place on July 25, 2023, in Karachi. In light of the current circumstances, the company has made arrangements for shareholders to participate in the meeting through a video facility. The meeting will cover various important agenda items as outlined below:

Ordinary Businesses:

1. Receipt and Adoption of Audited Financial Statements: Shareholders will receive, consider, and adopt the audited financial statements of Hinopak Motors Limited for the year ended March 31, 2023. The accompanying reports from the Directors and Auditors will also be presented for consideration.

2. Appointment of Auditors: Shareholders will have the opportunity to appoint auditors for the upcoming financial year and determine their remuneration.

3. Any Other Business: With the permission of the Chair, any additional business or matters of importance may be discussed during the meeting.

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