Attock Petroleum Limited’s notice of annual general meeting
Karachi: Enclosed please find a copy of Notice of the Annual General Meeting to be held on October 18, 2011 for circulation among your members.
Notice is hereby given that the 16th Annual General Meeting (being 26th General Meeting) of the Company will be held at Islamabad Club, Islamabad, on October 18, 2011 at 10:00 a.m. to transact the following business:
1. To receive, consider and adopt the audited financial statements of the Company together with Directors’ and Auditor’s Reports for the year ended June 30, 2011.
2. To approve a final cash dividend of 300% i.e. Rs. 30/- per share or Rs. 10/-each, as recommended by the Board of Directors in addition to the interim dividend of Rs.11.50 per share i.e. 115% already paid to the shareholders, thus making a total dividend of Rs.41.50 per share i.e. 415% for the year ended June 30, 2011.
3. To appoint auditors for the year ending June 30, 2012 and to fix their remuneration.
Participation in the Annual Meeting:
A member entitled to attend and vote at the meeting is entitled to appoint any other person/representative as his/her proxy to attend and vote. Proxies in order to be effective must be received at the Registered Office of the Company duly stamped and signed not less than 48 hours before the meeting.
CDC Account Holders will further have to follow the under mentioned guidelines as laid down in Circular 1 dated January 26, 2000 issued by the Securities and Exchange Commission of Pakistan.
A. For Attending the Meeting:
i. In case of individuals, the account holders or sub-account holders and/or the persons whose securities are in group account and their registration details are uploaded as per the regulations, shall authenticate their identity by showing their original National Identity Card (CNIC) or original passport at the time of attending the meeting.
ii. In case of corporate entities, the Board of Directors’ resolution/power of attorney with specimen signature of the nominees shall be produced (unless it has been provided earlier) at the time or the meeting.
B- For Appointing Proxies:
i. In case of individuals, the account holders or sub-account holders and/or the persons whose securities are in group account and their registration details are uploaded as per the regulations, shall submit the proxy form as per the above requirements.
ii. The proxy form shall be witnessed by two persons whose names, addresses and CNIC numbers shall be mentioned on the form.
iii. In Attested copies of CNIC or the passport of the beneficial owners and the proxy shall be furnished with the proxy form.
iv. The proxies shall produce their original CNIC or original passport at the time of meeting.
v. In case of corporate entities, the Board of Directors’ resolution/ power of attorney with specimen signature of the person nominated to represent and vote on behalf of the corporate entity, shall be submitted (unless it has been provided earlier) along with proxy form to the Company.
Members who may be seeking exemption from deduction of income-tax or are eligible for deduction at a reduce rate are requested to submit a valid tax certificate or necessary documentary evidence as the case may be Members desiring non-deduction of Zakat are also requested to submit a declaration for non-deduction of Zakat. Necessary advice in either case must be submitted within not more than 15 days from the date of dividend entitlement.
Closure of Share Transfer Books:
The Share Transfer Books of the Company will remain closed and no transfer of shares will be accepted for registration from October 10, 2011 to October 18, 2011 (both days inclusive). Transfers received in order at the office of the Company’s Share Registrar, THK Associates (Private) Limited, Ground Floor, State Life Building-3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on October 08, 2011 will be treated in time for the purpose of payment of final cash dividend, if approved by the Shareholders.
Change in Address:
Members are requested to promptly notify any change of address to the Company’s Share Registrar.
Statement under Section 160(1) (B) of the Companies Ordinances, 1984
Statement under SRO 865(1)/2000 Dated December 6, 2000.
In the AGM held on September 27, 2007 shareholders approved investment in following Associated Companies:
|National Refinery Limited||(NRL)|
|Attock Refinery Limited||(ARL)|
|Pakistan Oilfields Limited||(POL)|
|Attock Cement Pakistan Limited||(ACPL)|
Except for ARL, no investment has been made in any other associated concern.
1. Reasons for not having investment made
Due to change in the Government policies, liquidity crisis and less than satisfactory growth and improvement in GDP and macro economic indicators respectively.
2. Major change in financial position of investee companies since the date of last resolution
Changes in financial position are as follows:
1. Earnings per share (restated):
|Name of the Company||Year ended June 30, 2007||Year ended June 30, 2010||Nine Months ended March 31, 2011|
Rs. Per Share
ii. Break-up value per share:
|Name of the Company||March 31, 2007||June 30, 2010||March31, 2O11|
Rs. Per Share
The above figures are based on latest available financial statements.
For more information, contact:
Attock Petroleum Limited
Corporate Office: 6, Faisal Avenue,
F-7/1, Islamabad, Pakistan,