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NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given to all the members of Systems Limited (the “Company”) that 38th Annual General Meeting of the Company is scheduled to be held on April 24, 2015 AT 11:00 a.m at Chamber of Commerce Building, 11-Sharae Aiwan-e-Tijarat, Lahore to transact the following business:

Ordinary Business:

  1. To confirm the minutes of the Extra Ordinary General Meeting held on Dec 02, 2014.
  2. To receive, consider and adopt the Audit Accounts of the Company for the year ended December 31, 2014 together with the Board of Director’s and Auditor’s reports thereon.
  3. To approve and declare cash dividend @ 10% i.e. Pkr 1/- per share and bonus share @ 10% i.e. 10 Shares per 100 share held, for the year ended December 31, 2014 as recommended by the Board of Directors.
  4. To appoint Auditors and fix their remuneration for the year ending December 31, 2015. The Board of directors upon recommendation of audit committee has recommended M/S Ernst & Young Ford Rhodes Sidat Hyder, Chartered Accountants, being eligible for appointment as auditors of the company for the year ending December 31, 2015.
  5. To approve the Web placement of quarterly accounts as per Circular No. 19 of 2004 issued by Securities and Exchange Commission of Pakistan (SECP).
  6. Special Business:

  7. To approve running credit line of Pkr 60 Million to company’s subsidiary E-Processing Systems (Pvt.) Limited for meeting its working capital requirements at an annual markup rate of 9%.
  8. To approve the changes in Systems Limited Employee Stock Option Scheme.
  9. Any other business:

  10. Any other business with permission of the Chair.
    BY ORDER OF THE BOARD April 02, 2015
    Affan Sajjad (Company Secretary) Lahore


NOTES:

  1. The Share Transfer books of the company will be closed from April 18, 2015 to April 24, 2015 (both days inclusive). Transfers received at the address of THK Associates (Pvt.) Limited, 2nd floor, State Life Building No.3, Dr. Zia-uddin Ahmed Road, Karachi at the close of business on April 17, 2015 will be treated in the time for the purpose of above entitlement to the transferees.
  2. A member entitled to attend and vote at the meeting may appoint another member as his/her proxy to attend and vote in his/her place. Proxies completed in all respect, in order to be effective, must be received at the Registered Office of the Company not less than forty eight (48) hours before the time of meeting.
  3. Members who have not yet submitted photocopies of Computerized National Identity Card (CNIC) are requested to send the same at the earliest.
  4. All the account holders whose registration details are uploaded as per CDC Regulations shall authenticate their identity by showing original CNIC at the time of attending the meeting. In case of corporate entity, a certified copy of resolution of the Board Directors/ valid Power of Attorney having the name and specimen signature of the nominee should be produced at the time of meeting.
  5. The Statement U/S 160(1) (b) of the Compliance Ordinance 1984 is being sent to all shareholders through courier/registered post along with the notice of the meeting