Notice of AGM

NOTICE OF ANNUAL GENERAL MEETING

NOTICE OF ANNUAL GENERAL MEETING

 

Notice is hereby given that the Annual General Meeting of the members of Sindh Abadgar’s Sugar Mills Limited (the “company”) will be held on January 10, 2020 (Friday) at 04:00 Pm at Pakistan Institute of International Affairs (PIIA) Near Sidco Avenue Centre, Opposite Libra Autos CNG Pump, Maulana Deen Muhammad Wafai Road, Karachi., to transact the following businesses:

 

  1. To confirm the Minutes of the Annual General Meeting held on 18th January, 2019..

 

  1. To receive, consider and adopt the Audited Financial Statements of the Company for the year ended September 30, 2019 together with the Chairman’s Review, Directors’ and Auditors’ reports thereon.

 

  1. To approve Final Cash Dividend @ 10% (i.e. Rs. 1/-) per Ordinary Share as recommended by the Board of Directors.

 

  1. To appoint Statutory Auditors and fix their remuneration.

 

  1. To transact any other business with the permission of the chair.

 

 

 

By Order of the Board

                                                                                                          

 

      Aziz Ahmed

Company Secretary

Karachi.

­­­­­

                  December 05th 2019                                             

 

 

 

 

 

NOTES:

BOOK CLOSURE NOTICE:

The Ordinary Shares Transfer Books of the Company will remain closed from 04-01-2020 to  10-01-2020 (both days inclusive) for entitlement of Cash Dividend (i.e. Rs. 1 per Ordinary Share) and attending and voting at Annual General Meeting. Physical transfer/ CDS Transactions IDs received in order in all respect up to 1:00 p.m. on January 03, 2020 at Share Registrar M/s JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar, Karachi., will be considered in time for entitlement of Cash Dividend and attending of meeting.

 

PROXIES

A member eligible to attend and vote at this meeting may appoint an other member his/her proxy to attend and vote instead of him/her. Proxies in order to be effective must reach the Company’s registered office not less than 48 hours before the time for holding the meeting. Proxies of the members through CDC shall be accompanied with attested copies of their CNIC. In case of corporate entity, the Board’s Resolution/power of attorney with specimen signature shall be furnished along with proxy form to the Company. The shareholders through CDC are requested to bring original CNIC, Account Number and Participant Account Number to produce at the time of attending the meeting. The proxy shall produce his / her original valid CNIC or original passport at the time of meeting. Shareholders are requested to immediately notify the Company of change in address, if any.

 

Members who have deposited their shares into Central Depository Company of Pakistan Ltd (CDC) will further have to follow the under mentioned guidelines as laid down by Securities and Exchange Commission of Pakistan.

 

  1. For Attending the Meeting
  2. In case of individuals, the account holder and / or sub-account holder and their registration details are uploaded as per the CDC regulations, shall authenticate his / her identity by showing his / her original CNIC or original passport at the time of attending the meeting.

 

  1. In case of corporate entity, the Board’s resolution power of attorney with specimen signature of the nominee shall be produced (unless it has been provided earlier) at the time of meeting.

 

  1. For Appointing Proxies

 

  1. In case of individual, the account holder and / or sub-account holder and their registration details are uploaded as per the CDC regulations, shall submit the proxy form as per above requirements.
  2. The proxy form shall be witnessed by two persons, whose names addresses and CNIC number shall be mentioned on the form.

 

  1. Attested copies of the CNIC or the passport beneficial owners and the proxy shall be furnished with proxy form.

 

  1. The proxy shall produce his original CNIC or original passport at the time of the meeting.

 

In case of corporate entity, the Board’s resolution / power of attorney with specimen signature shall be furnished (unless it has been provided earlier) along with proxy form to the company.

 

DEDUCTION OF WITHHOLDING, TAX ON DIVIDEND

Pursuant to the provisions of the Finance Act, 2019 the rates of deduction of income tax from dividend payments under the Income Tax Ordinance have been revised as follows:

 

  • Filer 15%
  • Non-Filer 30%

All shareholders are advised to check their status on Active Taxpayers List (ATL) available on FBR Website and may, if required, take necessary actions for inclusion of their name in ATL to avail the lower rate of tax deduction.

 

DEDUCTION OF WITHHOLDING TAX ON DIVIDEND IN CASE OF JOINT ACCOUNT HOLDERS

All shareholders who hold shares jointly are requested to provide following information regarding shareholding proportions of Principal Shareholder and joint-holders) in respect of shares held by them to our Share Registrar M/s JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar , Karachi . Otherwise each joint holder shall be assumed to have an equal number of Shares.

Name of the Company Sindh Abadgar’s Sugar Mills Limited
Folio No. / CDS A/C No.
No. of Shares Held
Principal Name & CNIC
Shareholder Shareholding Proportion (No. of Shares)
Joint Name & CNIC
Shareholders Shareholding Proportion (No. of Shares)

 

Signature of Primary Shareholder ______________

 

EXEMPTION OF WITHHOLDING TAX:

Withholding tax exemption from dividend income, shall only be allowed if copy of valid tax exemption certificates is made available to our Share Registrar Office, Share Registrar M/s JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar , Karachi up to January 03, 2020.

 

SUBMISSION OF COPY OF CNIC (MANDATORY)

Individuals including all joint holders holding physical share certificates are requested to submit a copy of their valid CNIC to the Company or the Company’s Share Registrar. All shareholders are once again requested to send a copy of their valid CNIC to our Share Registrar, Share Registrar office M/s JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar , Karachi. The shareholders while sending CNIC must quote their respective folio numbers and name of the Company.

 

As per regulation no. 6 of the companies (Distribution of dividend) regulations, 2017 and section

243(2) of the Companies Act 2017, the company will be constrained to withhold payment of dividend of shareholders in case of non-availability of identification number of the shareholders.

 

ZAKAT DECLARATION 

Zakat will be deducted from the dividends at source under the Zakat & Usher Laws and will be deposited within the prescribed period with the relevant authority. Please submit your Zakat Declarations under Zakat and Usher Ordinance, 1980 & Rule 4 of Zakat (Deduction & Refund) Rules, 1981 CZ-50 Form, In case you want to claim exemption, with your brokers or the Central Depository Company of Pakistan Limited (in case the shares are held in CDC-Sub Account or CDC Investor Account) or to our Share Registrar,M/s. JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar , Karachi. The Shareholders while sending the Zakat Declarations, as the case may be, must quote company name and their respective folio numbers.

 

Shareholders should also notify our Share Registrar, M/s.  JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah-e-Iraq, Saddar , Karachi., regarding any change in their addresses.

 

MANDATORY PAYMENT OF CASH DIVIDEND THROUGH ELECTRONIC MODE:

The provisions of section 242 of the Companies Act, 2017 require the listed companies that any dividend payable in cash shall only be paid through electronic mode directly into the bank account designated by the entitled shareholders. Accordingly, the shareholders holding physical shares are requested to provide the following information to the Company’s Share Registrar at the address given herein above. In the case of Shares held in CDC, the same information should be provided directly to the CDS participants for updating and forwarding to the Company

 

 

 

Folio No. / Investor
Account Number/ CDC
Sub Account No.
Title of Account
IBAN Number
Bank Name
Branch
Branch
Address
Mobile Number
Name of Network
(if Ported)
Email Address

 

 

Signature of Shareholder ___________________

 

TRANSMISSION OF ANNUAL FINANCIAL STATEMENTS THROUGH EMAIL:

In pursuance of the directions given by the Securities and Exchange Commission of Pakistan (SECP) vide SRO vide SRO 787 (I)/2014 dated September 8, 2014, those shareholders who desire to receive Annual Financial Statements in future through email instead of receiving the same by post are advised to give their formal consent along with their valid email on a standard request form which is available at the Company’s website i.e. www.sasmltd.com and send the form , duly signed by the shareholders, alongwith copy of his/her CNIC to the Company’s Share Registrar M/s. JWAFFS Registrar Services (Pvt) LTD, 407 & 408, 4th Floor, Alameera Centre, Sharah e Iraq, Saddar , Karachi.

 

Circulation of Annual Report Through CD/DVD/USB

 

In pursuance to SECP’s SRO 470(1) 2016 dated 31st May 2016, the shareholders of the company in AGM held on 10th January 2020 had accorded their consent for transmission of annual report through CD/DVD/USB instead of transmitting the same in hard copy. Those shareholders who wish to receive hard copy may send request to the company secretary / share registrar and the company will then provide the hard copy to the shareholders without any cost.

 

 

UNCLAIMED DIVIDEND / SHARES

Shareholders who could not collect their dividend/Physical shares are advised to contact our Share Registrar to collect/enquire about their unclaimed dividend or shares, if any

 

VIDEO CONFERENCE FACILITY

In terms of the Companies Act, 2017, members residing in a city holding at least 10% of the total paid up share capital may demand the facility of video-link for participating in the Annual General Meeting. The request for video-link facility shall be received by Share Registrar at the address given hereinabove at least 7 days prior to the date of the meeting on the Standard Form placed in the annual report which is also available on the website of the Company.