NOTICE OF EXTRA ORDINARY GENERAL MEETING
Notice is hereby given that an Extra Ordinary General Meeting of Sazgar Engineering Works Limited will be held at Four Seasons Banquet Hall, Lala Zar Commercial Market, 0.5 KM – Main Raiwind Road, Thokar Niaz Baig, Lahore on Wednesday, June 18, 2014 at 11:00A.M. to transact the following special business:
- To consider, discuss and accord approval to Mr. Saeed Iqbal Khan to hold office of profit in the Company as an Executive Director and pass the following resolutions as ordinary resolutions with or without modification:
(i) “Resolved that approval be and is hereby accorded to Mr. Saeed Iqbal Khan to hold office of profit in the Company as an Executive Director for a term commencing from June 18, 2014 and ending on March 20, 2017.”
(ii) “Further resolved that payment of Rupees 350,000/- per month to Mr. Saeed Iqbal Khan be and is hereby approved for holding of office of profit as an Executive Director of the company. He will also be entitled for the perquisites and benefits like free use of company maintained car for official and private purposes, re-imbursement of actual medical expenses and bonuses as per company policy and rules. His remuneration will be subject to such increments, adjustments and other entitlements as may be granted at any time and from time to time by the Board of Directors of the Company and / or in accordance with the Company’s policies and rules for the time being in force.”
(iii) “Further resolved that the Company Secretary be and is hereby authorized to fulfill all the legal formalities in respect of holding of office of profit in the Company by Mr. Saeed Iqbal Khan as an Executive Director of the company.”
By order of the Board
May 28, 2014
a. The share transfer books of the company will remain closed from June 12, 2014 to 18th June, 2014 (both days inclusive) to determine the entitlement of the members to attend and vote at the extraordinary general meeting.
b. A member entitled to attend and vote at this meeting may appoint another member as his/her proxy to attend the meeting and vote for his/her behalf. 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 time of holding the meeting.
c. Members are requested to promptly communicate change in their addresses, if any.
CDC Account Holders will further have to follow the guidelines as laid down in Circular 1 dated January 26, 2000 issued by Securities and Exchange Commission of Pakistan for attending the meeting and appointment of proxies.
STATEMETNT U/S 160(1)(b) OF THE COMPANIES ORDINANCE, 1984
This statement sets out the material facts pertaining to the special business to be transacted at the Extra Ordinary General Meeting of the Company to be held on Wednesday, June 18, 2014 at 11:00 A.M.
ITEM NO . 1 OF THE AGENDA
For the smooth and efficient operations of the affairs of the Company, the Board of Directors on the recommendations of the Human Resource and Remuneration Committee and subject to the approval of the members of the Company, has decided to appoint Mr. Saeed Iqbal Khan as an Executive Director of the company for a term commencing from June 18, 2014 and ending on March 20, 2017 at a monthly remuneration of Rs. 350,000/- along with perquisites and benefits as per Company policy and rules.
The directors of the Company have no interest directly or indirectly in the Special Business except that Mr. Saeed Iqbal Khan who is interested only to the extent of payment of remuneration and other benefits associated with his appointment as an Executive Director.