The Securities and Exchange Commission of Pakistan (SECP) has, in view of the forthcoming Eidul Azha holidays during the last week of October, clarified that the companies closing their financial year on June 30, can hold their Annual General Meetings (AGMs) by November 3, 2012.
The companies that closed their financial years on June 30 were required to hold their AGMs by October 31, 2012, in accordance with the provisions of Section 158 of the Companies Ordinance, 1984. This decision has been made to facilitate companies and encourage maximum shareholder participation in the AGMs.
