K-Electric - Extension in time for holding Annual General Meeting

In a letter addressed to the PSX, K-Electric (KEL) notified the exchange about its application to SECP regarding extension in time for holding Annual General Meeting (AGM).

The statement issued that, “We would like to further inform that the company has filed review petition with NEPRA on the Multi Year Tariff (MYT) determination and NEPRA’s final decision on review petition is expected in July 2017.”

“Accordingly, we have applied to SECP on 07 June 2017 to allow the Company to convene the AGM for FY 2016 by 31 August 2017. We have further requested SECP to condone the inevitable delay in releasing the quarterly accounts for the period ended 30 September 2016, 31 December 2016 and 31 March 2017.”

The company had earlier announced  that it would be holding its AGM for FY 2016 by June 30, 2017.