Gammon Pakistan : Transmission of 76th Annual Report for the Year Ended June 30, 2023

76TH

ANNUAL REPORT 2023

COMPANY INFORMATION

Chairman

Lt Gen Ali Kuli Khan Khattak (Retd)	Chairman
Board of Directors
Mr. Khalid Kuli Khan Khattak	Director
Mrs. Ayesha Alamzeb Durrani	Director
Mr. Muhammad Kuli Khan Khattak	Director
Mr. Sikandar Kuli Khan Khattak	Director
Mr. Kamal Abdullah Malik	Independent Director
Mr. Fazal-ur-Rehman Khan Burki	Independent Director
Chief Executive Officer
Mr. Khalid Kuli Khan Khattak
Audit Committee
Mr. Kamal Abdullah Malik	Chairman
Mr. Muhammad Kuli Khan Khattak	Member
Mr. Sikandar Kuli Khan Khattak	Member
HR Committee
Mr. Fazal-ur-Rehman Khan Burki
Mrs. Ayesha Alamzeb Durrani
Mr. Sikandar Kuli Khan Khattak
Company Secretary
Mr. Amin ur Rasheed
Chief Financial Officer
Mr. Ghulam Murtaza Khurshid
Internal Auditor
Mr. Salman Khan ACA
External Auditor
M/S Rizwan & Co.
Chartered Accountants
Islamabad
Legal Advisor
Chanda Law Associates	Advocates
Rawalpindi
Stock Exchange
The Gammon Pakistan Limited
is a listed Company and
Its shares are traded on
Pakistan Stock Exchange Limited

Bankers

Askari Bank Limited

Bank Alfalah Limited

Bank of Punjab

Habib Bank Limited

Allied Bank Limited

Silk Bank Limited

National Bank of Pakistan

Registered Office

Gammon House

400/2, Peshawar Road, Rawalpindi Tel: [phone]

Fax: [phone]

E-mail: (i) [e-mail]

(ii) [e-mail]

Share Registrar

Vision Consulting Limited 3-C, LDA Flats, 1st Floor, Lawrence Road, Lahore Tel: [phone] Email: [e-mail]: www.vcl.com.pk

Gammon Pakistan Limited	www.gammonpakistan.com

GAMMON PAKISTAN LIMITED 76th ANNUAL REPORT

JUNE 30, 2023

TABLE OF CONTENTS	PAGE
Mission Statement / Vision Statement	1
Notice of Annual General Meeting	2 - 8
Chairman Review	9 - 12
Directors Report	13 - 26
Code of Conduct	27 - 32
Pattern of Shareholding	33 - 35
Statement of Compliance for Listed Companies (Code of
Corporate Governance) Regulations, 2019	36 -39
Review Report to the Members on Statement of compliances
contained in Listed Companies (Code of Corporate Governance)	40
Regulations, 2019
Independent Auditor's Report on Financial Statements for the	41 - 44
year ended June 30, 2022
Gammon Pakistan Limited Financial Statements for the year	45 - 87
ended June 30, 2022
Independent Auditor's Report on Consolidated Financial	88 - 91
Statements for the year ended June 30, 2022
Consolidated Financial Statements for the year ended June 30,	92 - 135
2022
Key Operating & Financial Data	136

MISSION STATEMENT

Regain for Gammon Pakistan Limited its position in the Construction Industry of Pakistan /abroad through as aggressive but prudent construction strategy

VISION STATEMENT

To be a Construction Company of international standard of repute which executes works confirming to the latest Engineering Practices and innovations. Employ most modern instrumentation/mechanization to provide technical services with the highest degree of Quality Control and Customer Satisfaction. The Management also promises complete Financial Transparency to all its shareholders and customers so that it is able to turn around and bring Gammon Pakistan Limited back to its original glory.

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GAMMON PAKISTAN LIMITED

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the 76th Annual General Meeting of Gammon Pakistan Limited (the Company) will be held at Gammon House, 400/2, Peshawar Road, Rawalpindi on Saturday October 28, 2023 at 11:00 A.M. to transact the following business.

ORDINARY BUSINESS

1. To confirm the Minutes of the 75th Annual General Meeting held on October 28, 2022.
2. To receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended, June 30, 2023 together with the Directors' and Auditors' reports thereon.
3. To appoint Auditors of the Company for the year to be ending on June 30, 2024 and to fix their remuneration.
4. To elect the Board of Directors in accordance with Section 159 of the Companies Act, 2017. The Board of Directors had fixed the number of Directors at Seven (7) of this term of three years, commencing from November 01, 2023. The names of retiring Directors are as under:

1. Mr. Ali Kuli Khan Khattak

1. Mr. Khalid Kuli Khan Khattak

1. Mr. Muhammad Kuli Khan Khattak

IV.	Mr. Sikandar Kuli Khan Khattak

1. Mrs. Ayesha Alamzeb Durrani

VI.	Mr. Kamal Abdullah Malik
VII.	Mr. Fazal-ur-Rehman Khan Burki

SPECIAL BUSINESS

To seek approval of the shareholders of the company to the following resolutions:

"RESOLVED THAT

Shares be issued to the two shareholders for consideration otherwise than cash in the capital of Gammon Pakistan Precast (Private) Limited in the following ratio:

1. 16,087,300 number of shares of Rs.10 each be issued to Gammon Pakistan Limited
2. 8,114,000 number of shares of Rs. 10 each be issued to Mr. Muhammad Shahbaz Anwer of Rajcon.

These shares are based on the transfer by Gammon Pakistan Limited land and old infrastructure on

261.35 kanals of land valued at Rs.160,873,000 and by Rajcon-Muhammad Shahbaz Anwar by installation of Machinery, equipment and other pre-cast manufacturing tools valued at Rs. 81,140,000 at this land".

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