Page 243 - Interloop Annual Report 2018-2019

STATEMENT UNDER SECTION

134 (3) of the Companies Act, 2017

This statement sets out the material facts pertaining to the existing Articles of the Company and its replacement with a
special business, being Items on the notice, intended to be new set of Articles of Association, to bring it in line with the
transacted at the annual general meeting of the Company to provisions of the Companies Act, 2017 and other applicable
be held on October 14, 2019. regulations.

Explanation on Item # 5 A copy of new set of Articles of Association is being circulated
to members with the notice of Annual General Meeting.
The Companies Act, 2017 has replaced the Companies
Ordinance, 1984 and it is desirable to amend the Articles The new set of Articles of Association have been kept at the
of Association of the Company to reflect the provisions Registered Office of the Company and may be inspected
and sections of the new Companies Act, 2017. Also, the by members on working days during usual business hours
Company has now become listed and it requires to add few from Monday to Friday (9.00 a.m. - 5.00 p.m.) from the date
additional clauses relevant in the context of a listed entity. of issuance/publication of this notice till the date of general
As the amendments have been numerous, it is proposed to meeting.
adopt the revised revision as a whole in substitution of the
existing Articles of Association. The Directors of the Company have no direct or indirect
interest in the special resolution proposing alterations
The Board of Directors of the Company in their meeting held in the Articles of Association, except to the extent of their
on September 23, 2019, has recommended alteration in the shareholding in the Company.

Interloop Limited Annual Report 2018-19

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