Pak Elektron Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on April 25, 2018 at Lahore.
The agenda of the meeting will be confirming the minutes of last Annual General Meeting held on April 24, 2017, to receive and adopt the Annual Audited Accounts of the Company for the year ended December 31, 2017 together with Directors and Auditors Reports thereon, to approve final dividend @ 12% i.e. Rs. 1.20/- per share as recommended by the Board of Directors in addition to the Interim Dividend already paid @15% i.e. Rs. 1.50/- per share, making a total dividend @ 27% i.e. Rs. 2.70/- per share for the Financial year 2017, to appoint Auditors to hold office till the conclusion of the next Annual General Meeting and to fix their remuneration and any other business with the permission of the chair.
Further, the closed period of the company is from April 19, 2018 to April 25, 2018 (both days inclusive).
The announcement is available at:
Pak Elektron Limited was incorporated in Pakistan on March 03, 1956 as a public limited company. The foundations of the company are developed under the Companies Ordinance, 1984. The principal activity of the company is manufacturing and sale of electrical capital goods and domestic appliances. It is currently organized into two main operating divisions the power division and appliances division. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Lahore.
The activities of the company in the power division include manufacturing and distribution of transformers, switchgears, energy meters, power transformers, construction of grid stations and electrification works. The appliance division is associated with manufacturing, assembling and distribution of refrigerators, air conditioners, microwave ovens, televisions, generators and washing machines.
The symbol "PAEL" is being used by the stock exchanges for the shares of Pak Elektron Limited.
© Pakistan Press International, source Asianet-Pakistan