Pakistan Telephone Cables Limited’s notice of extra ordinary general meeting (EOGM)

Karachi: Please find a copy of Notice of EOGM of shareholders to be held on April 02, 2012 at registered office of the Company to approve the Ordinary and Special business as per agenda of notice.

Notice of Extra Ordinary General Meeting

Notice is Hereby Given that an Extra Ordinary General Meeting of the shareholders of Pakistan Telephone Cables Limited will be held on Monday at 11:30 a.m. on April 02, 2012 at 18th Mile RCD Highway 27/3/2 Mouza Bairut, Tehsil Hub, District Lasbella, Balochistan to transact the following business:

Ordinary Business:

To confirm the Minutes of the Annual General Meeting held on December 22, 2011.

Special Business

To consider and if thought fit to pass the following resolution, with or without modification, as a special resolution;

“Resolved that the Sponsors of the Pakistan Telephone Cables Limited (Company) be and are hereby authorized to purchase 1,724,400 Ordinary Shares of the Company at Rs. 5/- (Rupees Five only) as determined by the Karachi Stock Exchange and Lahore Stock Exchange from the shareholders other than the sponsors and their relatives for the purpose of de-listing of ordinary shares of the Company from the Karachi Stock Exchange and Lahore Stock Exchange.

Further Resolved that the Chief Executive and/or the Company Secretary be and are hereby authorized jointly and separately to take all steps required in this regard”.

Other Business

To transact any other business with the permission of the Chair.

Notes:

(1) The share transfer books of the Company will remain closed from March 31, 2012 to April 07, 2012 (both days inclusive). Physical Transfers/CDC transactions IDs received in order at the Office of the Company Share Registrar M/s. Technology Trades (Pvt.) Ltd., 241-C, Block-2, P.E.C.H.S., Off: Shahrah-e-Qauideen, Karachi, upto March 30, 2012 will be considered in time for attending of the meeting.

(2) All Members should bring their original Computerized National Identity Card at the time of the meeting.

(3) A Member eligible to attend and vote at the meeting may appoint another member as his/her proxy to attend speak and vote on his/her behalf Proxies in order to be effective must reach Company’s Registrar Office not less than 48 hours before the time of the meeting. Proxies of the members through CDC shall be accompanied with attested copy of their CNICs, The shareholder through CDC are requested to bring their original CNICs, account number and particular of Account Number to produce at the time of attending the meeting.

(4) Shareholders are requested to notify any change in their address immediately.

Statement of Material Facts under Section 160 (1) (b) of the Companies Ordinance, 1984.

Delisting from Stock Exchange.

The Company proposes to seek delisting and de-quoting of the ordinary shares from the Karachi Stock Exchange and Lahore Stock Exchange as majority of the shares are held by the sponsors and their relatives (91.79%) and the shares being traded in the market are only 8.21% of total shareholdings. Furthermore due to persistent losses in past years the Company is not in a position to bear the cost of listing on the Stock Exchanges and to meet the Corporate Compliances prescribed for the listed companies. As such there is no benefit of listing to the shareholders and to the company, therefore on the Board of Directors’ approval the Company has applied for delisting and de-quotation of its ordinary shares from the stock Exchanges. The sponsors are being authorized to purchase ordinary shares at the price of Rs. 5/- per share (Rupees Five only), as determined by the Karachi Stock Exchange and Lahore Stock Exchange from the shareholders other than sponsors and their relatives.

For more information, contact:
Pakistan Telephone Cables Limited
E-3, Block-17, Al-Raee Avenue,
Behind National Stadium, Gulshan-e-Iqbal,
Karachi-75800 (Pakistan).
UAN: 111 111 905
Ph: (+92-21) 3481-5840-4
Fax: 021-3480-2943
Email: info@ptclcables.com
Website: www.ptcl.com

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