Page 240 - Interloop Annual Report 2018-2019

has been allowed in electronic format through email. x. Requirement of Companies xiii. Withholding Tax On Dividend
SECP through its SRO.470(I)/2016 dated May 31, 2016 have (Postal Ballot) Regulations 2018
allowed companies to circulate their annual balance sheet, Pursuant to Companies (Postal Ballot) Regulations 2018,
profit and loss account, auditor’s report and directors’ report for any other agenda item subject to the requirements of
to its members through CD/DVD/USB at their registered Sections 143 and 144 of the Companies Act 2017, members
addresses. In view of the above the Company has sent its present in person, through video-link or by proxy, and having
Annual Report to the shareholders in the form of CD/DVD. not less than one-tenth of the total voting power can also
Any Member can send request for printed copy of the Annual demand a poll and exercise their right of vote through postal
Report to the Company on standard request form placed ballot, that is voting by post or through any electronic mode,
under the Investor Information section on its website: in accordance with requirements and procedure contained
https://www.interloop-pk.com/forms-notices- in the aforesaid regulations.
announcements//
xi. Payment of Cash Dividend
viii. Placement of Financial Electronically (E-Dividend
Statements on Website Mechanism)
The Financial Statements of the Company for the year ended As per provision of Section 242 of Companies Act, 2017
June 30, 2019 along with reports have been placed on the any dividend payable in cash shall only be paid through
website of the Company: electronic mode directly into the bank account designated by
https://www.interloop-pk.com/wp-content/ the entitled shareholders and SECP vide S.R.O.1145(I)/2017
uploads/2019/09/ANNUAL-AUDITED-FINANCIAL- (as amended) directed all shareholders to provide their valid
STATEMENTS-AND-REPORT-2019.pdf International Bank Account Numbers (IBAN) to receive cash
dividend electronically.
ix. Consent for Video Conference The shareholders are hereby advised to provide details of
Facility their bank mandate specifying: (i) Title of Account, (ii) IBAN,
(iii) Bank Name, (iv) Branch Name and Address to the
Pursuant to Section 132(2) & section 134(b) of the Company’s Share Registrar, shareholders who hold shares
Companies Act, 2017, if company receives consent with Participants/CDC are advised to provide the mandate
form from shareholders holding aggregate 10% or more to the concerned Broker/Participant/CDC Investor account
shareholding residing at geographical location to participate services.
in the meeting through video conference at least 7 days
prior to the date of meeting, the company will arrange video The form for providing such information has been made
conference facility in that city subject to availability of such available under the Investor Information section at
facility in that city. To avail this facility please provide following Company’s website https://www.interloop-pk.com/
information and submit to registered office of the Company:
forms-notices-announcements/
I/We, __________________________________ of
_________________, being a member of Interloop xii. Unclaimed Dividends
Limited, holder of __________________________ ordinary As per the provision of section 244 of the Companies
share(s) as per Registered Folio/CDC Account No. Act, 2017, any shares issued or dividend declared by the
______________________ hereby opt for video conference Company which have remained unclaimed/unpaid for a
facility at ____________________________.
period of three years from the date on which it was due and
payable are required to be deposited with the Commission
_____________________
for the credit of Federal Government after issuance of notices
to the shareholders to file their claim.
Signature of Member
Shareholders are requested to ensure that their claims for
unclaimed dividend and shares are lodged timely. In case,
no claim is lodged with the Company in the given time, the
Company shall proceed to deposit the unclaimed/unpaid
Interloop Limited to the provision of Section 244 (2) of Companies Act, 2017.
amount and shares with the Federal Government pursuant
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xv. Details of Beneficial Ownership
Government of Pakistan through Finance Act, 2019, has Attention of corporate entities / legal persons is also invited
made certain amendments in withholding tax provision by towards SECP Circular No. 16 and 20 of 2018. Respective
substituting the definition of “Filers” with “Active Taxpayer shareholders (corporate entities / legal persons) are advised
List” (ATL), whereby the company is required to collect tax to provide the information pertaining to ultimate beneficial
on dividend under Section 150 of the Income Tax Ordinance, owners and / or other information as prescribed in the subject
2001 from the person not appearing in the ATL at the rates SECP Circulars to the Share Registrar of the Company.
specified in the Ordinance as increased by 100%. These tax
rates are as under: xvi. Zakat Declaration (CZ-50)
(a) For persons appearing in Active Taxpayer List 15.0% Zakat will be deducted from the dividends at source at
(b) For persons not appearing in Active Taxpayer List 30.0% the rate of 2.5% of the paid-up value of the share (Rs. 10
each) and will be deposited within the prescribed period
Shareholders who are flers, are advised to make sure that with the relevant authority. In case of claiming exemption,
their names are entered into latest ATL provided on the please submit your Zakat Declaration under Zakat and
website of FBR at the time of dividend payment, otherwise
Ushr Ordinance, 1980 and Rule 4 of Zakat (Deduction and
they shall be treated as person not appearing in ATL and tax Refund) Rules, 1981, CZ-50 Form with our Share Registrar.
on their cash dividend will be deducted at the rate of 30% Physical shareholders are requested to submit the said
instead of 15%. declaration to our Share Registrar in the proper manner.
The Shareholders must write Interloop Limited’s name and
their respective CDS A/C # or Folio numbers on Zakat
xiv. For Joint Shareholders Declarations at relevant place.
For shareholders holding their shares jointly as per the
clarifcation issued by the Federal Board of Revenue,
withholding tax will be determined separately as per status
of their names appearing in the ATL for principal shareholder
as well as joint-holder(s) based on their shareholding
proportions. Therefore, all shareholders who hold shares
jointly are required to provide shareholding proportions of
principal shareholder and joint-holder(s) in respect of shares
held by them to our Share Registrar in writing as follows:
Interloop Limited
Principal Joint Shareholder
Shareholder
Shareholding Shareholing
Folio/CDC Name Name
Account Total and Proportion and Proportion
# Shares CNIC (Number. of CNIC (Number. of
Shares) Shares)
Annual Report 2018-19
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