Pakistan Oilfields Limited’s Extra Ordinary General Meeting

Karachi: Enclosed please find a copy of the Notice of Extra-Ordinary General Meeting to beheld on Monday, June 20, 2011 for circulation amongst your members.

Notice is hereby given that the Eighteenth (18th) Extra Ordinary General Meeting of the Company will insha’Allah be held at Morgah Club, Morgah, Rawalpindi on Monday June 20, 2011 at 10:00 a.m.to transacts the following business:

Ordinary Business

1. To elect seven directors as fixed by the Board pursuant to the provisions of Section 178 of the Companies Ordinance, 1984 for a term of three years.

The following are the names of the retiring directors:

1) Dr. Ghaith R. Pharaon
2) Mr. Laith G. Pharaon
3) Mr. Wael G. Pharaon
4) Mr. Shuaib A. Malk
5) Mr. Arif Kemal
6) Mr. Abdus Sattar
7) Mr. Mohammad Raziuddin

The retiring directors are eligible for re-election.

2. To transact any other business with the permission of the Chairman.

NOTES:

1. Any person who is not ineligible to be appointed as a director under section 187 of the Companies Ordinance 1984 and seeks to contest the election to the office of director shall whether he/she is a retiring director or otherwise file with the Company at its registered office not later than fourteen days before the date of the above said meeting his/her intention to offer himself / herself for the election of directors in terms of section 178 (3) of the Companies Ordinance, 1984 together with (a) consent in form 28, (b) a declaration with consent to act as director in the prescribed form under clause (ii) of the Code of Corporate Governance to the effect that he / she is aware of duties and power of directors under the Companies Ordinance, 1984, the Memorandum and Articles of Association of the Company and the listing regulations of the Karachi, Lahore and Islamabad Stock Exchanges and has read the provisions contained therein, (c) a declaration in terms of clause (iii) and (iv) of the Code of Corporate Governance to the effect that he / she is not serving as a director of more than nine other listed companies, that his / her name is borne in the register of national tax payers (except where he/she is a non-resident), that he /she has not been convicted by a court of competent jurisdiction as a defaulter in payment of any loan to a banking company, a development financial institution or a non-banking financial institution.

2. As per clause (v) of Code of Corporate Governance, no member of the company can be elected or nominated as a director if he or his spouse is engaged in the business of stock brokerage (unless specifically exempted by the Securities and Exchange Commission of Pakistan).

3. A member of the Company entitled to attend and vote at this meeting may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies in order to be effective must be received at the Registered Office of the Company, duly stamped and signed, not less than 48 hours before the meeting.

4. CDC shareholders entitled to attend this meeting must bring with them their National Identity Cards/Passports in original along with Participant’s ID Numbers and their account numbers to prove their identity and in case of corporate entities, the Board of Directors’ resolution/power of attorney with specimen signature of the nominee shall be produced (unless provided earlier) at the time of meeting.

5. The share transfer books of the Company will remain closed and no transfer of shares will be accepted for registration from June 14, 2011 to June 20, 2011 (both days inclusive).

For more information, contact:
Syed Khalid Nafees Zaidi
Company Secretary
Pakistan Oilfields Limited
P.O.L. House, Morgah,
Rawalpindi 46600 Pakistan
Tel: +9251 5487589-97
Web site: www.pakooil.com
E-mail: polcms@pakoil.com.pk