Securities, Exchange Commission asks companies to hold AGMs within 4 months

ISLAMABAD (November 07 2002) : The Securities and Exchange Commission of Pakistan has directed all the listed, unlisted and private companies whose financial year closes after October 26, 2002 to hold their annual general meetings within four months.

It said that according to amendments in the companies ordinance, 1984, all such companies should hold the annual general meeting within four months of the close of their financial year. Before the amendment the companies were allowed six months to hold the meeting.

The commission has allowed a general extension of sixty days to companies whose financial year closed before October 26 to hold their annual general meeting.

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