KSB Pumps Company Limited’s notice of 58th annual general meeting
Karachi, March 27, 2013 (PPI-OT): Enclosed please find a copy of the Notice of Annual General Meeting of the Shareholders of the Company scheduled to be held on Wednesday, April 24, 2013 for your record and necessary action.
Notice of Annual General Meeting
Notice is hereby given that the 56th Annual General Meeting of the members of KSB Pumps Company Limited will be held on Wednesday, the 24th April, 2013, at 4.00 p.m. at Hotel Hospitality Inn, 25-26 Egerton Road, Lahore, to transact the following business:
1. To confirm the minutes of the Annual General Meeting held on April 25, 2012.
2. To consider and adopt the audited accounts of the Company for the year ended December 31, 2012 and report of Auditors and Directors thereon.
3. To approve and declare dividend of 40% for the financial year ended December 31, 2012 as recommended by the Directors.
4. To appoint auditors and fix their remuneration for the year ending 31.12.2013. M/s. A.F. Ferguson and Co. Chartered Accountants, the retiring auditors, offer themselves for re-appointment as auditors of the company.
5. Special Business
To consider and if thought fit to pass the following resolution as a “Special Resolution”:
Resolved “that Article 84 of the Articles of the Association of the Company be amended to read as follows:
Remuneration of Directors
84. The remuneration of each Director (other than a regularly paid Managing Director or full time working Director) for attending meetings of the Board of Directors shall be Rs. 20,000/- (Rupees twenty thousand only) per meeting attended by him.
1. A member entitled to attend and vote at this meeting is entitled to appoint another member as proxy. Proxies in order to be effective must be received not later than 48 hours before the time appointed for the meeting. If a member appoints more than one proxy and more than one instruments of proxy are deposited by a member with the Company, all such instruments of proxy shall be rendered invalid. Every proxy shall have the right to attend, speak and vote in place of the member appointing him/ her at the meeting.
2. The Share Transfer Books of the Company will remain closed from 17th April, 2013 to 24th April, 2013 (both days inclusive). Transfers received in order at Company’s Registrar, M/s. Central Depository Company of Pakistan Limited, CDC House, 99-B, Block-B, S.M.C.H.S., Main Shahrah-e-Faisal, Karachi-74000, by the close of business on 16th April, 2013 will be in time to be passed for payment of dividend to the transferees.
3. The CDC account/ sub account holders and/ or the persons whose securities are in group account and their registration details are up-loaded as per the regulations, shall for identification purpose have to produce their original Computerized National Identity Card (CNIC) or original passport at the time of attending the meeting.
In case of corporate entity, the Board of Directors’ resolution / power of attorney with specimen signature of the nominee shall be produced at the time of the meeting.
Statement under Section 160(1)(b) of the Companies Ordinance, 1984 in regard to Special Business
Item 5 of the agenda
Amendment is being proposed to increase the fee of the Directors for attending Board Meeting to a reasonable limit. The Directors interest in the aforesaid special business is to the extent of the amount of increased fee only.
For more information, contact:
KSB Pumps Company Limited
16/2 Sir Aga Khan Road, Lahore Pakistan.