Arif Habib : Certified Copy of Resolution passed in Extraordinary General Meeting held on December 26, 2023
December 26, 2023 at 03:16 pm IST
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December 26, 2023
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Subject: Arif Habib Limited - Certified Copy of Resolution passed in
Extraordinary General Meeting held on December 26, 2023
Dear Sir,
In continuation of our previous communication, this is to inform that in compliance with the Order of the High Court, an Extraordinary General Meeting (EOGM) of the members of Arif Habib Limited was held today, i.e. on Tuesday, December 26, 2023 at 11:00 a.m. at Karachi for consideration and approval of the Scheme of Arrangement (Scheme) under Sections 279 to 283 and 285 of the Companies Act, 2017 (Act), involving the demerger of certain non-core business, including assets, liabilities and obligations, from Arif Habib Limited (AHL), and merger / amalgamation of the same with and into Arif Habib Corporation Limited (AHCL), the holding company of AHL, along with all ancillary matters.
The resolution for approval of the aforementioned matter have been passed by the requisite majority of shareholders present in person or as proxies or through e-voting / postal ballot who were entitled to vote thereat. In compliance with the PSX Regulations, certified true copy of resolution passed during the EOGM is reproduces as follows:
Special business
Resolved that:
"The Scheme of Arrangement dated November 17, 2023, prepared under the provisions of Sections 279 to 283 and 285 of the Companies Act, 2017, for, inter alia, the bifurcation / separation of Arif Habib Limited into two segments / undertakings i.e. the Demerged Undertaking and the Retained Undertaking, and merger, by way of amalgamation, of the Demerged Undertaking with and into Arif Habib Corporation Limited, along with all ancillary and incidental matters thereto, placed before the meeting for consideration and approval, be and is hereby approved and adopted, along with any modifications / amendments required or conditions imposed by the High Court of Sindh at Karachi, subject to sanction by the Honorable High Court of Sindh at Karachi, in terms of the provisions of the Companies Act, 2017."
CERTIFIED TRUE COPY
Further, minutes of the EOGM will be submitted to the Exchange within the stipulated time.
Yours faithfully,
Muhammad Taha Siddiqui
Company Secretary
cc :
The Registrar of Companies
Executive Director / HOD
Securities and Exchange Commission
of
Offsite-II Department, Supervision Division
Pakistan
Securities & Exchange Commission of Pakistan
Company Registration Office
63, NIC Building, Jinnah Avenue, Blue Area
4th Floor, State Life Building No. 2
Islamabad
Off I. I. Chundrigar Road, Karachi
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Arif Habib Ltd. published this content on 26 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 December 2023 09:45:34 UTC.
Arif Habib Limited is a Pakistan-based brokerage and financial services company engaged in equity trading, investment banking, money market and forex, commodities trading and securities research. The Company's brokerage services cater to the investment needs of clientele across foreigners, high net worth individuals, banks, mutual funds, government pension funds, insurance companies and retail investors. Its investment banking services include merger and acquisitions, equity capital market, debt capital market, and project financing. It provides investment banking services to various industries, including automobile and auto parts, consumer products and retail, financial institutions and insurance, healthcare, industrials, infrastructure and transportation. The Company's money market services include interbank brokerage division, which consists of two dealing desks: money market and foreign exchange. Its money market desk services include interbank dealing, fixed income and corporate.