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NOTICE OF ANNUAL GENERAL MEETING
267
PAKISTAN OILFIELDS LIMITED
2.
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 October 13, 2020 to October 19, 2020 (both days inclusive).
Transfers received in order at the Registered Office of the Company by the close of business on
October 12, 2020 will be treated in time for the purpose of payment of the final cash dividend, if
approved by the shareholders.
3.
PARTICIPATION IN THE ANNUAL GENERAL MEETING:
A member entitled to participate and vote at this meeting is also entitled to appoint another
proxy to participate and vote on his/her behalf through video link. Proxies in order to be effective
must be received at the Registered Office of the Company duly stamped and signed not later
than 48 hours before the time of the meeting.
4.
CDC ACCOUNT HOLDERSWILL HAVE TO FOLLOW UNDER MENTIONED GUIDELINES AS
LAID DOWN BY SECP:
For appointing proxies
a.
In case of individuals, the account holders or sub account holders whose registration details are
uploaded as per regulations, shall submit the proxy form as per the above requirements. The
proxy form shall be witnessed by two persons whose names, addresses and CNIC numbers shall
be mentioned on the proxy form. Copies of CNIC or the passport of the beneficial owners and
the proxy shall be furnished with the proxy form.
b.
In case of corporate entities, 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 not been provided earlier) along with proxy form to the Company.
5.
CONFIRMATION OF “FILER” STATUS OF INCOME TAX RETURN FOR APPLICATION OF RATES
PURSUANT TO THE PROVISIONS OF FINANCE ACT, 2020:
Pursuant to the provisions of Finance Act, 2020, effective July 01, 2020, reforms have been
made with regards to deduction of income tax. For cash dividend, the rates of deduction of
income tax, under section 150 of the Income Tax Ordinance, 2001 are as follows:
a.
Rate of tax deduction for filer of income tax returns
15.00%
b.
Rate of tax deduction for non filer of income tax returns
30.00%
In case of joint account, each holder is to be treated individually as either a filer or non filer and
tax will be deducted on the basis of shareholding of each joint holder as may be notified by the
shareholder, in writing to the Company by sending following detail on the registered address
of the Company. Members who have deposited their shares into CDC are requested to send
a copy of detail regarding tax status also to the relevant member stock exchange or to CDC
if maintaining CDC investor account. If no notification is received, each joint holder shall be
assumed to have an equal number of shares.