Japan Power Generation Limited’s meeting of board of directors

Karachi: It is to inform that meeting of the Board of Directors of Japan Power Generation Limited (JPGL) will be held at 1:30 PM on Thursday, September 22, 2011 at Pak Oman Investment Company Limited, 1st Floor, Tower A, Finance and Trade Center, Shahrah e Faisal, Karachi.

The meeting is expected to finish at 4:00 PM.

The Company has declared the “Closed Period” from September 15, 2011 to September 22, 2011 as required under Clause (xxvi) of the Code of Corporate Governance contained in the Listing Regulation No. 37 of the Exchange. Accordingly, no Director, CEO or Executive shall, directly / indirectly, deal in the shares of the Company in any manner during the Closed Period.

Notice of Meeting of Board of Directors

Notice is hereby given to all the Board members of Japan Power Generation Limited the “Company”) that a Board Meeting of the Company will be held as per the following schedule:

Day and Date: Thursday, September 22, 2011

Time: 1:30 PM

Venue: Pak Oman Investment Company Limited, 1st Floor, Tower A, Finance and. Trade Center, Shahrah e Faisal, Karachi.

The following businesses shall be transacted at the meeting:

1. To confirm the minutes of the last meeting of he Board of Directors held on Wednesday, June 22, 2011.

2. To finalize and approve the draft of initiated audited financial statements of the Company for the year ended June 30, 2011 and authorize Chief Financial Officer, Chief Executive Officer and Chairman/ Director to sign such financial statements.

3. To finalize and approve the draft of directors’ report for the year ended June 30, 2011 (including statement of compliance with Code of Corporate Governance and Auditors Review report to the Members on it.

4. To ratify the write- offs, and additions/disposals to fixed assets made during the financial year ended June 30, 2011.

5. To discuss the updates on arbitration proceedings.

6. To review and discuss the Internal Audit Report for the quarter ended June 30, 2011.

7. To finalize and approve the appointment of Internal Auditors and their remuneration for the year ending June 30, 2012 and approve audit plan for 2011-12.

8. To recommend the Appointment of Statutory Auditors and their remuneration for the year ending June 30, 2012.

9. To finalize and approve Budget for the financial year 2011-12.

10. To finalize the incentive compensation of Ex-CEO as per legal advice/Auditors opinion.

11. To approve rate increase demanded by SIEMENS in respect of O and M contract.

12. To approve the increments of staff salaries and CEO remuneration.

13. To discuss the strategy for implementation of steam turbine.

14. To discuss the reopening of Tariff with NEPRA and pass resolution required to file and pursue tariff petition.

15. Notice for closure of share transfer book. (From Tuesday, October 11, 2011 to Thursday, October 20, 2011).

16. To transact any other business that may be pleased before the meeting with the permission of chair.

For more information,contact:
Zain ul Abidin
Company Secretary
Japan Power Generation Limited
Jia Bagga,
Raiwind Road, Lahore.
Tel: 042-35835864-6
Fax: 042-35835860
E-mail: jpgl@brain.net.pk
Website: http://www.jpglpk.com