The Members of MUFAP in the said EOGM
have in principle approved the proposal of SECP for an SRO status for MUFAP subject to following conditions:
SABB noted that earnings per share for the period ended 30 September 2015 have been restated taking into account the increase in the bank capital from SAR 10 Billion to SAR 15 Billion by issuing bonus shares in the ratio of 1:2 which was approved in the EOGM
dated 11 March 2015.
During the proceedings the minutes of the 5th EOGM
held on September 11, 2104 were confirmed and the Audited Accounts for the year ended December 31, 2014 showing considerable improvement were approved and adopted.
The board, which met under the chairmanship of Munir Kamal on November 15, has proposed to conduct the first EOGM
on December 8 to get approval from general body to extend the term of board of directors of the exchange to two years.
As per KSE notice, Pak Elektron Ltd (PEL) will be holding an EOGM
on July 23rd to approve issuance of 40mn shares to National Bank (NBP) as redemption of the outstanding privately placed TFC (PRs3.
Similarly, the EOGM
will authorize the company to make investment of Rs 50 million in its associated company Sapphire Dairies Ltd.