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Oil and Gas Devt Co (OGDC)

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Friday 02 December, 2016

Oil and Gas Devt Co

AGM Statement

RNS Number : 7964Q
Oil and Gas Development Company Ltd
02 December 2016
 

OIL AND GAS DEVELOPMENT COMPANY LIMITED

 

DRAFT MINUTES OF 19th ANNUAL GENERAL MEETING, BEING THE THIRTIETH MEETING OF THE MEMBERS OF THE COMPANY

HELD AT MARRIOTT HOTEL, ISLAMABAD

ON WEDNESDAY, OCTOBER 26, 2016 AT 10:00 HOURS

 

PRESENT

 

As per list attached.

 

COMMENCEMENT OF THE MEETING

 

          With the permission of the Chairman Mr. Zahid Muzaffar, the Company Secretary welcomed the members to the 19th Annual General meeting of the Company and invited Hafiz Muhammad Ali for recitation from the Holy Quran.

 

DOCUMENTS TABLED

 

19.1    Following documents were tabled:

 

19.1.1 Minutes

 

Draft minutes of 18th Annual General Meeting held on
October 15, 2015.

          19.1.2  Draft minutes of 10th Extraordinary General Meeting held on August 23, 2016.

 

19.1.3 Annual Report

 

Auditors' and Directors' reports together with the audited accounts of the Company for the year ended June 30, 2016.

19.1.4 Proxies

 

S. #

FOLIO / CDC ID & A/C #

NAME OF SHAREHOLDER

 

NO. OF SHARES

NAME OF APPOINTEE

1



GOVERNMENT OF PAKISTAN- (Ministry of Petroleum and Natural Resoures).

 2,902,148,181
(67.48%)

Mr. Zahid Muzaffar /

Mr. Zahid Mir

2



GOVERNMENT OF PAKISTAN- (Privatisation Commission)

 322,460,900
(7.50%)

3



OGDCL- EMPLOYEES EMPOWERMENT TRUST

 432,189,039
(10.05%)

Mr. Asif Naseem /

Mr. Mehmood ul Hassan

4

00547

8859

THE HARDING LOEVNER FRONTIER MARKETS EQUITY FUND

 53,000

Mr.Munir Ali Shah/ Mr. Ijaz Malik

5

00547

10012

STCTNG BEDRIJFSTAKPENSIOENFONDS VOR HET BEROEPSVERVOER O.D.W

1,080,000

6

00547

8487

NTGI-QM COMMON DIVERSIFIED FRONTIER MARKETS INDEX FUND

1,191,144

7

00547

8834

ASHMORE SICAV EMERGING MARKET FRONTIER EQUITY FUND

581,800

8

00547

10970

ARROWSTREET (CANADA) GLOBAL ALL-COUNTRY ALPHA EXTENSION FNDI

139,900

9

00547

9659

ASHMORE EMERGING MARKETS FRONTIER EQUITY FUND

715,500

10

00547

7406

HARDING LOEVNER FUNDS,INC FRONTIER EMERGING MARKET PORTFOLIO

2,314,900




Six Million Seventy Six Thousand Two Hundred Forty Four Only

6,076,244







11

00695

12953

FRANKLIN TEMPLETON INVESTMENT FUNDS [1610-5]

225,713,223

Mr. Omar K. Agha/ Mr. Shahbaz A. Saleemi

12

00695

11708

GLOBAL X FUNDS - GLOBAL X MSCI PAKISTAN ETF

515,740

13

00695

10874

CONSULTING GROUP CAPITAL MARKETS FUNDS [1363-5]

622,862

14

00695

12201

VANGUARD FUNDS PLC - VANGUARD FTSE EM UCITS ETF [1534-4]

104,900

15

00695

12581

VANGUARD FUNDS PUBLIC LIMITED COMPANY [1573-5]

18,000

16

00695

12987

GLOBAL X FUNDS - GLOBAL X NEXT EMERGING & FRONTIER ETF

13,200

17

00695

13639

VANGUARD TOTAL WORLD STOCK INDEX FUND

122,500

18

00695

13621

VANGUARD EMERGING MARKETS STOCK INDEX FUND

10,550,100

19

00695

13613

VANGUARD FTSE ALL-WORLD EX-US INDEX FUND

894,300

20

00695

5049

Schroder International Selection Fund [634-5]

6,070,300

Mr. Omar K. Agha/ Mr. Shahbaz A. Saleemi

21

00695

6633

The Wellcome Trust Limited (787-6)

2,022,600

22

00695

8464

Morgan Stanley Investment Funds (975-6)

1,543,400

23

00695

11302

GOLDMAN SACHS TRUST -GOLDMAN SACHS N-11 EQUITY FUND [1443-1]

553,500

24

00695

11450

FRANKLIN TEMPLETON INVESTMENTS CORP. [1453-4]

2,755,600

25

00695

11716

PFA KAPITALFORENING [1484-3]

2,875,400

26

00695

12342

KAPITALFORENINGEN LAERERNES PENSION INVEST [1547-5]

1,314,800

27

00695

12391

SCHRODER FRONTIER MARKETS EQUITY PORTFOLIO L.P.[1554-3]

369,500

28

00695

13084

FIDELITY INVESTMENTS MONEY MANAGEMENT INC. [000911900249]

17,000

29

00695

13373

T.ROWE PRICE INSTITITIONAL FRONTIER MAKTS EQTY FD[911900257]

465,800

30

00695

13548

JPMORGAN DIVERSIFIED RETURN EMERGING MARKETS EQUITY ETF

8,800

31

00695

13589

VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND

6,186,900

32

00695

13308

T. ROWE PRICE FUNDS SICAV - FRONTIER MKTS EQ F[000912600018]

157,000

33

00695

12193

VANGUARD FUNDS PLC - VG FTSE ALL-WORLD UCITS ETF [1533-0]

2,700




Two Hundred Sixty Two Million Eight Hundred Ninty Eight Thousand One Hundred Twenty Five Only

262,898,125







34

00521

2680

ROBECO CAPITAL GROWTH FUNDS

1,595,762

Mr. M. Taimoor Khan/ Mr. Waseem Iqbal

35

00521

2532

CANADA POST CORPORATION REGISTERED PENSION PLAN

1,345,700

36

00521

8521

ARROWSTREET COLLECTIVE INVESTMENT TRUST

190,000

37

00521

5246

EATON VANCE TRT CO CM TRT FD-PARMTC STR EME MKT EQT CM TRT F

32,000

Mr. M. Taimoor Khan/ Mr. Waseem Iqbal

38

00521

8513

E VAN TR C CIT FOR EM BEN PLN EVTC PARA SE COR EQT FD

136,100

39

00521

7416

PUBLIC SCHOOL TEACHERS PENSION AND RETIREMENT FD OF CHICAGO

45,100

40

00521

3944

PUBLIC EMPLOYEES RETIREMENT SYSTEM OF MISSISSIPPI

2,565,600

41

00521

2920

EATON VANCE COLLECTIVE INV TRT FOR EMP BENEFIT PLANS

1,090,100

42

00521

8257

VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND

16,700

43

00521

7903

PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF NEW MEXICO

113,700

44

00521

5162

ADVANCE SERIES TRUST - AST PARAMETRIC EMERGING MKTS EQT PRTF

284,800

45

00521

8307

LAZARD INVESTMENT FUNDS-LAZARD EMERGING MARKETS FUND

1,700,095

46

00521

7648

GUGGENHEIM FRONTIER MARKETS ETF

223,322

47

00521

3662

PARAMETRIC EMERGING MARKETS FUND

1,840,391

48

00521

3688

PARAMETRIC TAX-MANAGED EMERGING MARKETS FUND

1,649,900

49

00521

3498

GENERAL CONFERENCE CORPORATION OF SEVENTH DAY ADVENTISTS

101,700

50

00521

3845

LAZARD EMERGING MARKETS FUND

2,182,200

51

00521

2979

LAZARD RETIREMENT EMERGING MKT EQT PRTFL

3,279,300

52

00521

8638

ARROWSTREET GLOBAL EQUITY CCF

100,800

53

00521

8414

PARAMETRIC EMERGING MARKETS CORE FUND

5,900

54

00521

7382

TEACHER RETIREMENT SYSTEM OF TEXAS

405,200

55

00521

8349

GOLDMAN SACHS TRUST II GOLDMAN SACHS MULTI-MANGER GL EQ FUND

20,400

56

00521

7812

JNL/LAZARD EMERGING MARKETS FUND

3,395,172

Mr. M. Taimoor Khan/ Mr. Waseem Iqbal

57

00521

8356

FIDELITY LATIN AMERICA FUND

86,000

58

00521

8042

VANGUARD FTSE ASIA EX JAPAN HIGH DIVIDEND YIELD INDEX ETF

9,800

59

00521

6590

CITY OF NEW YORK GROUP TRUST

242,400

60

00521

6483

MONETARY AUTHORITY OF SINGAPORE

1,289,200

61

00521

7713

MERCER GLOBAL EQUITY FUND

120,200

62

00521

7184

CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

49,300

63

00521

6368

STICHTING F&C MULTI MANAGER EMERGING EQUITY ACTIVE

704,152

64

00521

8083

ST STR TR HK LT AS TRS F VN ETF SER - VAN FTSE A EX JA IN ET

3,000

65

00521

5808

BLACKROCK FRONTIER MARKETS FUND B

1,229,593

66

00521

5774

FRONTIER MKTS EX-GULF COO COUNCIL COUNT ESG SCREENED FUND B

988,496

67

00521

5980

ISHARES MSCI FRONTIER 100 ETF

3,788,200

68

00521

5790

BLACKROCK FRONTIER MARKETS FUND

1,394,700

69

00521

6269

MSAM SA ACTING ON BEHALF OF MORGAN STANLEY GALAXY FUND

10,185,000

70

00521

7606

GOLDMAN SACHS FUNDS II - GOLDMAN SACHS GMS EME EQU PORTFOLIO

370,800

71

00521

3456

MORGAN STANLEY INST FD INC FRONTIER EMERGING MKT PORTFOLIO

10,575,300

72

00521

3530

STATE OF NEW JERSEY COMMON PENSION FUND D

1,420,749

73

00521

4793

TEACHER RETIREMENT SYSTEM OF TEXAS

402,100

74

00521

4801

TEACHER RETIREMENT SYSTEM OF TEXAS

5,090,800

75

00521

3951

GOLDMAN SACHS FUNDS-GOLDMAN SACHS N-11(R) EQUITY PORTFOLIO

2,009,200

Mr. M. Taimoor Khan/ Mr. Waseem Iqbal

76

00521

3449

CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

5,316,100

77

00521

4082

THE JAMES IRVINE FOUNDATION

202,200

78

00521

3068

SANOFI-AVENTIS US PENSION TRUST

438,900

79

00521

2995

LAZARD EMERGING MARKETS EQUITY PORTFOLIO

38,754,349

80

00521

3431

CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

680,776

81

00521

2938

LAZARD/WILMINGTON COLLECTIVE TRUST (SUDAN FREE)

5,051,697

82

00521

4934

EMERGING MARKETS EQUITY GROUP TRUST

3,146,000

83

00521

3399

CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

5,886,678

84

00521

2987

LAZARD/WILMINGTON COLLECTIVE TRUST

818,378

85

00521

3415

CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM

306,524

86

00521

5329

ONTARIO PENSION BOARD

1,489,252

87

00521

3266

CALIFORNIA STATE TEACHERS RTM SYT-LAZARD ASSET MNG LLC

4,925,000

88

00521

3639

UPS GROUP TRUST

2,335,271




One Hundred Thirty One Milllion Six Hundred Thirty Thousand Fifty Seven Only.

131,630,057







89

05959

27

CDC-Trustee Atlas Stock Markets Fund

1,500,000

Ch. Mohsin Sarwar

90

09449

25

CDC-Trustee Atlas Islamic Stock Fund

610,000

91

10603

21

CDC-Trustee APF-Equity Sub Fund

127,000

92

10900

25

CDC-Trustee APIF- Equity Sub Fund

127,000

Ch. Mohsin Sarwar




Two Million Three Hundred Sixty Four Thousand Only

2,364,000

GRAND TOTAL SHARES 4,059,766,546 (94.37% OF TOTAL OUTSTANDING SHARES)

 

 

 

19.2   QUORUM, NOTICE AND AGENDA OF THE MEETING

 

          The Chairman requested the Company Secretary to confirm the quorum and read out notice and agenda of the meeting.  The Secretary informed that the proxies received were in order and quorum was present for the meeting.  The Secretary then read out the notice and agenda of the 19th Annual General Meeting, being the Thirtieth meeting of the members of the Company, held on Wednesday, October 26, 2016. 

 

19.3   Chairman's Address

 

On behalf of the Board of Directors of Oil & Gas Development Company Limited, the Chairman welcomed the members to 19th Annual General Meeting of the Company. 

 

The Chairman while presenting annual performance of the Company to the members expressed his pleasure to state that OGDCL on the back of vigorous exploratory endeavors, focus on completion of ongoing development projects and utilization of latest production techniques, recorded its highest ever crude oil production of 48,767 barrels per day on October 12, 2016. The credit for this record production goes to the Board and Management for developing an effective growth oriented strategy and to employees of the Company for making all out efforts to put this strategy into action.

 

The Chairman informed the members that fiscal year 2015-16 was marked as a year of both challenges and achievements in the Company's history. Despite the low oil price environment influencing the oil and gas sector across the globe, OGDCL being the national flagship of Pakistan's E&P sector remained steadfast in its resolve to carry on vigorous exploratory endeavors and continue playing a pivotal role in meeting the nation's oil and gas requirements. Pursuit to this ambition led the Company to report yet another industry leading performance in the Country while preserving its coveted status as a market leader in the E&P sector in terms of exploration acreage, seismic data acquisition, oil and gas reserves and production volumes.

 

On the operational front, the Chairman presented main highlights of the year as under:

§ Fast track seismic data acquisition of 5,336 Line km and 3,459 sq. km representing 68% and 53% of the total 2D and 3D seismic data acquired in the Country respectively;

 

§ Active drilling campaigns led to spud of 26 new wells including 12 exploratory/appraisal wells and 14 development wells;

 

§ Intensified exploratory efforts resulted in 6 oil and gas discoveries;

 

§ Production volumes contributed around 48% and 28% of the Country's total oil and natural gas production respectively;

 

§ Completion of phase-II of Sinjhoro development project leading to cumulative daily production from Sinjhoro field averaging 2,600 barrels of crude oil, 30 MMcf of gas and 140 Tons of LPG;

 

Chairman stated that OGDCL against the backdrop of slump in international oil prices, registered Sales Revenue of Rs 162.9 billion and Profit after Tax of Rs 60.0 billion during the year and total cumulative dividend declared for the year ended June 30, 2016 was Rs 5.20 per share;

 

Relating to contribution to national exchequer, the Chairman informed the members that OGDCL on account of corporate tax, dividend, royalty and government levies contributed a significant sum of Rs 81.6 billion to the national treasury during the year;

 

The Chairman also highlighted that OGDCL in response to ensuring top level commitment with respect to health, safety and environment achieved ISO 14001 and OHSAS 18001 certifications for its Dakhni and Chanda fields;

 

Social welfare activities also continued with greater focus on education, health and infrastructure development. OGDCL in collaboration with the Institute of Business Administration Karachi and Sukkur, launched its first National Talent Hunt Program offering free scholarships to the merit based students hailing from the underdeveloped areas.  Moreover, the Company introduced National Internship Program under which 300 graduates for 1 year internship were selected from all four provinces of the Country.

 

Moving on the Chairman informed the members that OGDCL is determined to carry on its vigorous E&P activities thus paving the way for new oil and gas discoveries leading to reserves addition and production enhancement in the coming years.

 

The Chairman said that he was confident that under the current management, the Company will strive to achieve new milestones and deliver improved operational and financial performance in the future for the benefit of its shareholders.  I am certain that together we will build a more competitive OGDCL that can outperform through all industry cycles.

 

At the end, the Chairman conveyed his sincere appreciation for continued support of all the stakeholders particularly Ministry of Petroleum & Natural Resources, Board of Directors and shareholders of the Company for their firm support and valuable counsel.  He also acknowledged the relentless efforts put in by OGDCL employees working at all levels as we collectively strive to stay ahead by continuing to push boundaries in the industry's new realities and drive forward our business performance in a commercially, environmentally and socially responsible manner.

 

The Chairman then asked the Company Secretary to proceed with the agenda items.

 

19.4   CONFIRMATION OF MINUTES OF THE 18th ANNUAL GENERAL MEETING HELD ON OCTOBER 15, 2015

 

          The Company Secretary informed that final draft of the minutes of 18th Annual General Meeting of the Company held on October 15, 2015 remained available for inspection at the registered office of the Company and were also provided to the members on request.  It was also made available to the members before the commencement of the meeting and was also laid on the table.  Company Secretary requested that the minutes be taken as read.

          Company Secretary invited comments from the members; the members however did not have any comments on the draft minutes. On the proposal of Mr. Irfan Babar Khan (CDC ID/AC # 06916-7439), seconded by Mr. Naseem Ahmed Khan Sherwani (CDC ID/AC #00364-25930), the members unanimously resolved as follows:

 

          RESOLVED that the minutes of the 18th Annual General Meeting of the members of the Company held on, October 15, 2015 be and are hereby approved and adopted.

 

          Further resolved that the Chairman is authorized to sign the minutes on behalf of the members.

 

19.5   CONFIRMATION OF MINUTES OF THE 10th EXTRAORDINARY GENERAL MEETING HELD ON AUGUST 23, 2016

 

          The Company Secretary informed that draft of the minutes of 10th Extraordinary General Meeting of members of the Company held on August 23, 2016 remained available for inspection at the registered office of the Company and were also provided to the members on request.  It was also made available to the members before the commencement of the meeting and was also laid on the table.  Company Secretary requested that the minutes be taken as read.

 

          Company Secretary invited comments from the members; the members however did not have any comments on the draft minutes. On the proposal of Mr. Irfan Babar Khan (CDC ID/AC # 06916-7439), seconded by Syed Nayyar Ali Zaidi (Folio #40221), the members unanimously resolved as follows:

 

          RESOLVED that the minutes of the 10th Extraordinary General Meeting of the members of the Company held on, August 23, 2016 be and are hereby approved and adopted.

 

          Further resolved that the Chairman is authorized to sign the minutes on behalf of the members.

 

19.6   TO RECEIVE AND CONSIDER THE AUDITED ANNUAL ACCOUNTS OF THE COMPANY FOR THE YEAR 2015-16 TOGETHER WITH AUDITORS' AND DIRECTORS' REPORTS THEREON

 

          The Secretary informed that the annual audited accounts of the Company for the year 2015-16 together with Auditors' and Directors' reports thereon duly recommended by the Board of Directors in its 185th meeting held on August 24, 2016 were circulated to all the members and also laid on the table.  It was therefore requested by the Company Secretary that the Auditors' and Directors' reports together with the audited accounts be taken as read.

            The members, on the proposal of Syed Irshad Hussain Bokhari  (Folio #42109), seconded by Mr. Muhammad Rasheed Ch. (Folio # 83583), agreed that the Auditors' and Directors' reports together with audited accounts having been circulated to the members be taken as read by the Company Secretary.

 

            The Company Secretary then invited the members to discuss the audited accounts, Auditors' and Directors' review thereon.  Mr. Asadullah Sajid, CDS ID/AC #00364-800 while discussing the annual accounts of the Company; raised the point that although decline in oil prices was witnessed internationally, but there was no decrease in gas prices and the Company was expected to sustain its growth rate.  The Company was expected to declare dividend at higher rate than the one recommended by Board of Directors.  He also quoted that other E&P companies operating in Pakistan were giving much better dividend to the shareholders compared to OGDCL.  With regard to performance of the Company, MD/CEO informed that the Company has achieved record crude oil production and has embarked on an aggressive exploratory strategy.  Decline in profitability was an industry wide international phenomenon; however OGDCL is among those E&P companies which have consistently sustained the challenges and recorded post tax profit which was a matter of satisfaction.  Mr. Asadullah Sajid commented that new appointments in OGDCL at senior management level were not being reported to the shareholders.   In response the Company Secretary informed that reporting requirements as prescribed in Listing Regulations and Companies Ordinance were being fulfilled and there was no deviation in this respect.  Mr. Asadullah Sajid also inquired whether the professionals at senior management level hired during last two years met the laid down criteria.  MD/CEO Mr. Zahid Mir confirmed that the appointments were made in accordance with the prescribed criteria.  Mr. Asadullah Sajid also proposed that profiles of senior management officers indicating their qualifications and experience may be given in the annual accounts.  He also suggested that HR policies, SOPs and recruitment procedures should also be disclosed.  He also inquired about the current status of shares and dividends allocated to employees of the Company under Benazir Stock Option Scheme (BESOS).  President Employees Empowerment Trust informed the shareholder that Privatisation Commission of Pakistan had deferred the payments to employees under BESOS as the Government was considering revamping of the scheme and effected parties had already approached the courts of law and the matter was subjudice.  Chairman Board Mr. Zahid Muzaffar requested the shareholder to convey his proposals and suggestion in writing to Company Secretary for consideration of the Board of Directors and the management.  Mr. Zafar Masood, Director appreciated the points raised by the shareholder and assured him that proposals received from the shareholders are given due consideration and are always welcome in the interest of improving the systems and procedures.  Mr. Irfan Babar Khan (CDC ID/AC #06916-7439) congratulated the management for ably steering the Company during challenging time and achieving milestone of record crude oil production and maintaining profitability.  Mr. Irfan Babar Khan mentioned that OGDCL is maintaining its status as the largest E&P Company which reflects performance and effective business strategy.

 

          On the proposal of Syed Nayyar Ali Zaidi (Folio #40221), seconded by Mr. Irfan Babar Khan (CDC ID/AC #06916-7439) the annual accounts of the Company were approved.

 

RESOLVED that the Directors' and Auditors' Reports and Company's accounts for the year ended June 30, 2016 be and are hereby approved and adopted.

 

19.7  APPOINTMENT OF AUDITORS

 

The Company Secretary informed that the present auditors i.e. M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s A.F. Ferguson, Chartered Accountants would stand retired by the close of this Annual General Meeting.  Both the auditors being eligible have offered themselves for re-appointment as joint statutory auditors for the year 2016-17.

On the proposal of the Audit Committee, the Board has recommended the re-appointment of the retiring auditors M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s A.F. Ferguson, Chartered Accountants on the following terms and conditions:-

 

a.

Annual audit fee

Rs 2,200,000/- per Auditor

b.

Fee for Half yearly review

Rs    880,000/- per Auditor


Total

Rs 3,080,000/- per Auditor


Plus out of pocket expenses at actual, maximum up to 10% of fee.

c.

100% Concession audit fee will remain unchanged to each firm.

 

 

On the proposal of Mr. Irfan Babar Khan (CDC ID/AC # 06916-7439), seconded by Mr. Naseem Ahmed Khan Sherwani (CDC ID/AC #00364-25930), it was unanimously resolved that M/s KPMG Taseer Hadi & Co., Chartered Accountants and M/s A.F. Ferguson, Chartered Accountants be and are hereby re-appointed as the Statutory Auditors of the Company for the year 2015-16 with following fee per audit firm:

 

a.

Annual audit fee

Rs 2,200,000/- per Auditor

b.

Fee for Half yearly review

Rs    880,000/- per Auditor


Total

Rs 3,080,000/- per Auditor


Plus out of pocket expenses at actual, maximum up to 10% of fee.

c.

100% Concession audit fee will remain unchanged to each firm.

 

 

19.8   APPROVAL OF FINAL CASH DIVIDEND

 

          The Company Secretary informed that during the year, the Company had declared and paid three interim cash dividends totaling 32% i.e. Rs 3.20 per Ordinary share of Rs 10/- each.  The Directors had further recommended a final cash dividend @ 20% of the par value of shares i.e. Rs 2/- per ordinary share of Rs 10 each for the year ended June 30, 2016.

          On the proposal of Irfan Babar Khan (CDC ID/AC # 06916-7439)  seconded by Syed Nayyar Ali Zaidi (Folio #40221), it was unanimously resolved that a final cash dividend of 20% of the par value of the shares i.e. Rs 2/- per ordinary share of Rs 10 each recommended by the Board of Directors (in addition to the three interim dividends already paid during the year) be and is hereby approved for the year ended June 30, 2016 to the members on record as on October 18, 2016.

 

 

CLOSURE OF THE MEETING

 

          There being no other business to transact the Chairman thanked the shareholders for sparing their valuable time to attend the AGM.  The meeting ended with a vote of thanks to the Chair, the members of the Board and the Management.

-.-.-.-.-.-.-



 

Attendance Sheet of OGDCL 19th AGM Held on October 26, 2016

Sr. No.

Name

Folio/CDC ID AC#

1.

Mr. Zahid Muzaffar

Chairman Board

2.

Mr. Zahid Mir

MD/CEO/Director

3.

Mr. Zafar Masud

Director Board

4.

Mr. Hamid Farooq

Director Board

5.

Prince Ahmed Omar Ahmedzai

Director Board

6.

Mr. Rahmat Salam Khattak

Director Board

7.

M/s A.F Ferguson & Co. Chartered Accountants

External Auditor

8.

M/s KPMG Taseer Hadi & Co. Chartered Accountants

External Auditor

9.

M/s Khokhar Law Chambers

Legal Advisor

10.

Mr. Shakeel Akram Khan

17728

11.

Mr.Saleem Ahmad

0030796028

12.

Mr. Zahid Hassan

19626

13.

Mr. Naseem Ahmed Khan

00364-25930

14.

Mr. Abdul Tayyab Khan

10629-70485

15.

Syed Nayyar Ali Zaidi

40221

16.

Mr. Irfan Baber Khan

06916-7439

17.

Syed Iqbal Ahmed

1552-27147

18.

Brigadier (R)  Abdul Hadi.

03228-5935

19.

Mr. Muhammad Hammad Khan

10629-70485

20.

Mr. Muhammad Rasheed Ch.

83583

21.

Mrs. Parveen Rashid Ch.

83582

22.

Mr. Asadullah Sajid

00364-800

23.

Mr. Zafran Aziz

04705-05703

24.

Mr. Muhammad Atif

04705-91789

25.

Mr. Nawazish Rasool

01552-5747

26.

S. Irshad Hussain

81841

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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