20000307

NOTICE OF ANNUAL GENERAL MEETING

NOTICE is hereby given that the 10th Annual General Meeting of the Shareholders of NISHAT (CHUNIAN) LIMITED will be held at the Head Office of the Company, 4-Happy Homes, 38-A, Main Gulberg, Lahore, on Friday, March 31, 2000 at 3.00 p.m. to transact the following business:-

1. To confirm the minutes of last General Meeting.

2. To receive and adopt audited accounts of the Company for the year ended September 30, 1999 together with Directors' and Auditors' reports thereon.

3. To approve 26% Cash Dividend (i.e. Rs. 2.60 per share) and 40% Bonus issue (i.e. two Bonus share against five existing shares), as recommended by the Directors.

4. To appoint auditors for the year ending September 30, 2000 and fix their remuneration. The present Auditors M/s. A.F. Ferguson & Co. Chartered Accountants, retire and being eligible, offer themselves for reappointment.

5. To elect seven Directors of the Company for a period of three years in accordance with the provisions of the Companies Ordinance, 1984, in the place of following retiring Directors.

1. Mr. Shahzad Saleem 2. Mr. Mian Muhammad Omar

3. Mrs. Akhtar Jehan Begum 4. Mrs. Farhat Saleem

5. Mrs. Sughra Begum 6. Mian Raza Mansha

7. Mian Umer Mansha

The Board of Directors has fixed the number of elected Directors as seven. All retiring directors shall be eligible to offer themselves for re-election.

6. SPECIAL BUSINESS

To consider and pass the following Special Resolution:

"RESOLVED THAT the authorised capital of the company be and is hereby increased from Rs. 150,000,000 divided into 15,000,000 Ordinary shares of Rs. 10/- each to Rs. 300,000,000 divided into 30,000,000 Ordinary shares of Rs. 10/- each. The new shares shall rank pari passu with the existing shares in all respects.

FURTHER RESOLVED THAT clause "V" of the Memorandum of Association and clause"7" of the Articles of Association of the company be amended accordingly.

STATEMENT UNDER SECTION 160(1)(b) OF THE COMPANIES ORDINANCE, 1984

It is proposed to increase the authorised capital of the company as above to enable the issue of shares as and when deemed necessary.

7. To transact any other business with the permission of the Chair.

BOOKS CLOSURE

The Share Transfer Books of the Company will remain closed from March 31, 2000 to April 07, 2000 (both days inclusive).

By Order of the Board

FARRUKH IFZAL

Corporate Secretary

Lahore:

March 08, 2000.

NOTES:

i) The Cash Dividend will be paid and the Bonus shares will be issued to the shareholders, whose names will appear in the register of members as at the close of business on March 30, 2000.

ii) All the members should bring their Original National Identity Card or Original Passport at the time of the Annual General Meeting to facilitate the identification.

iii) Nomiantions from the members for the Office of Directors must be received at least 14 clear days before the time of the Annual General Meeting at the registered office during working hours.

iv) A member eligible to attend and vote at this meeting may appoint another member as his/her proxy to attend and vote instead of him/her. Proxies in order to be effective must be received by the Company at the Registered Office not later than 48 hours before the time for holding the meeting during working hours.

v) Members are requested to immediately notify the change of address, if any.