Packages Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on May 29, 2020 at Karachi.

The agenda of the meeting will confirm the Minutes of the Extraordinary General Meeting of the Company held on May 30, 2019, to receive, consider and adopt the Audited Financial Statements of the Company for the year ended December 31, 2019 together with the Chairman's Review Report and Directors and Auditors Reports thereon, to consider and approve the payment of cash dividend for the year ended December 31, 2019 as recommended by the Board of Directors, to appoint Auditors for the year 2020 and to fix their remuneration and to elect ten directors as fixed by the Board under Section 159 (1) of the Companies Act, 2017 in accordance with the provisions of the said Act for aperiod of three years.

Further, the closed period of the company is from May 15, 2020 to May 29, 2020 (both days inclusive).

The announcement is available at:

https://dps.psx.com.pk/download/document/145805.pdf

Packages Limited is a public limited company incorporated in Pakistan. The company is principally engaged in the manufacture and sale of paper, paperboard, packaging materials and tissue products. The stocks of the company are quoted on the Karachi Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.

On September 17, 2012 the company has entered into a 50/50 joint venture with the 'Stora Enso OYJ Group' of Finland in its 100% wholly owned subsidiary Bulleh Shah Packaging Private Limited. The Joint Venture will include Paper & Paperboard and Corrugated business operations at Kasur and Karachi and will involve initial equity participation of Stora Enso of 35% by way of subscription of right shares with a commitment to increase the shareholding to 50% at a later stage subject to certain conditions being met. The company also decided to close down its Paper and Paperboard operations in Lahore which has divided the business into continuing and discontinued operations.

The symbol "PKGS" is being used by the stock exchanges for the shares of Packages Limited.

© Pakistan Press International, source Asianet-Pakistan