Page 174 - InterloopAnnualReport2021

SHARE TRANSFER SYSTEM
Share transfers received by the company’s Share Registrar a statement that a shareholder entitled to attend and
are registered within the prescribed period. vote, is entitled to appoint a proxy who sought to be a
member of the company. The instrument appointing a
DATES OF BOOK CLOSURE proxy (duly signed by the shareholder appointing that
The register of the members and shares transfer books of proxy) should be deposited at the registered office of the
the company will remain closed from October 08, 2021 to company, not less than forty-eight hours before the said
October 15, 2021 (both days inclusive). general meeting.

DATE OF DIVIDEND PAYMENT DIVIDEND MANDATE (MANDATORY)
The payment of dividend upon declaration by As per provision of Section 242 of Companies Act,
shareholders at the forthcoming Annual General Meeting 2017, any dividend payable in cash shall only be paid
will be made on or after October 15, 2021. through electronic mode directly into the bank account
designated by the entitled shareholders and SECP vide
Last year, the company has transferred the final cash S.R.O.1145(I)/2017 (as amended) directed all shareholders
dividend on October 28, 2020 after approval from to provide their valid International Bank Account Numbers
shareholders at the 28th Annual General Meeting. (IBAN) to receive cash dividend electronically. Company
shall be constrained to withhold the payment of Dividend
CIRCULATION OF ANNUAL REPORTS THROUGH CD to the shareholders, in case of non-availability of IBAN of
/ DVD / USB the shareholder or authorized person.
As notified by the Securities and Exchange Commission
of Pakistan (SECP) vide SRO 470(1)/2016, dated May WITHHOLDING TAX/ZAKAT ON DIVIDENDS:
31, 2016, and in continuation with the SRO 787(1)/2014 As per the provisions of Section 150 of the Income Tax
dated September 8, 2014, further supported by Section Ordinance, 2001, withholding tax is deductible at source
223(6) of the Companies Act 2017, and approved by the on the amount of dividend paid by the company at the
Shareholders, the company shall circulate Annual Report rate of 15% for filers and at the rate of 30% for non-filers.
2021 to its shareholders in the form of CD. Any member
requiring printed copy of Annual Report 2021 may send In the light of clarification from Federal Board of Revenue,
a request using a Standard Request Form placed on all the shareholders who intend to seek exemption from
company website. withholding of taxes on payment of dividend under clause
47B of Part – IV of the Second Schedule of the Income
PROXIES Tax Ordinance, 2001, are requested to provide valid
Pursuant to Section 137 of the Companies Act, 2017 Exemption Certificate under section 159(1) of the Income
and according to the Memorandum and Articles of Tax Ordinance, 2001, duly issued by the concerned
Association of the company, every shareholder of the Commissioner of Inland Revenue in order to claim the
company who is entitled to attend and vote at a general said exemption. Zakat is also deductible at source from
meeting of the company can appoint another person as the dividend at the rate of 2.5% of the face value of the
his/her proxy to attend and vote on his/her behalf. Every share, other than corporate holders or individuals who
notice calling a general meeting of the company contains have provided an undertaking for non-deduction of zakat.

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