Karachi: Enclosed please find a copy of the Notice of Annual General Meeting to be held on Wednesday, September 28, 2011 for circulation amongst your members.
Notice of Annual General Meeting
Notice is hereby given that the 14th Annual General Meeting being Twenty Fourth meeting of the members of Oil and Gas Development Company Limited will Insha-Allah be held at registered office of the Company, OCDCL Head Office, Plot No: 3, E6/G-6, Blue Area, Jinnah Avenue, Islamabad on Wednesday September 25, 2011 at 10:00 a.m. to transact the following business:
1) To confirm the minutes of the 13th Annual General Meeting held on September 30, 2010.
2) To receive, consider and adopt the audited accounts of the Company for the year ended June 30, 2011 together with the Directors’ and Auditors’ Reports thereon.
3) To approve the final cash dividend @25% i.e1 Rupees 2.50 per share for the year ended June 30, 2011 as recommended by the Board of Directors. This is in addition to two interim cash dividends of 30% i.e. Rs.3/- per share already paid during the year.
4) To appoint Auditors for the year 2011-12 and fix their remuneration. The present auditors M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s, M. Yousuf Adil Saleem & Co., Chartered Accountants will stand retired on the conclusion of this meeting.
5) To elect 12 Directors as fixed by the Board in its meeting held on July 27, 2011 in place of retiring Directors namely:
|01)||Muhammad Ejaz Chaudhry||Chairman|
|02)||Mr. Basharat A. Mirza||Acting MD/ CEO|
|03)||Senator Mir Wali Muhammad Badini||Director|
|04)||Syed Amir Ali Shah||Director|
|05)||Mr. Ahmad Bakhsh Lehri||Director|
|06)||Mr. Raashid Bashir Mazari||Director|
|07)||Dr. Kaiser Bengali||Director|
|08)||Mr. Wasim A. Zuberi||Director|
|09)||Mr. Tariq Faruque||Director|
|11)||Mr. Fahad Sheikh||Director|
6) To transact any other business with the permission of the Chair.
By order of the Board
Eram All Aziz
1- Participation in the Annual General Meeting
A member entitled to attend and vote at this meeting is entitled to appoint another person 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.
2. 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
In case of individuals, the account holder or sub-account holder and / or the person whose securities are in group account and their registration details are uploaded as per regulations, shall authenticate his / her identity by showing his / her original National Identity Card (NIC) original passport at the time to attending the meeting.
In the case of corporate entities, the Board of Directors’ resolution / power of attorney with specimen 5ignature of the nominee shall be produced (unless it has been provided earlier) at the time of the meeting.
b. For appointing proxies
i) In case of individuals, the account holder or sub-account holder and / or the person whose securities are in group account and their registration details are uploaded as per regulations, shall submit the proxy form as per the above requirement.
ii) The proxy form shall be witnessed by two persons whose names, addresses and NIC number shall be mentioned on the form.
iii) Attested copies for NIC or the passport of the beneficial owners and of the proxy shall be furnished with the proxy form.
iv) The proxy shall produce his / her original NIC or original passport at the time of the meeting.
v) In the case of a corporate entity, 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.
3. 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 Wednesday, September 21, 2011 to Wednesday, September 28, 2011 (both days inclusive). Transfers received in order at the Share Registrars’ office by the close of business on Tuesday, September 20, 2011 will be treated in time for the purpose of payment of final cash dividend, if approved by the Shareholders.
4. Change in Address
Members are requested to promptly notify any change in their address.
For more information, contact:
(Eram Ali Aziz)
Oil and Gas Development Company Limited
OGDC House, Jinnah Avenue,
Ph: (92-51) 2623072
Fax: (92-51) 9209762