Cyan Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on May 21, 2020 at Karachi.

The agenda of the meeting will confirm the minutes of the 59th Annual General Meeting of the Company held on March 29, 2019, receive, consider and adopt the Audited Financial Statements of the Company for the year ended December 31, 2019 together with the Auditors' and Directors' Reports thereon and Chairman's Review Report, approve the payment of final cash dividend at the rate of Rs. 1.00/- per share i.e. 10% for the year ended December 31, 2019 as recommended by the Board of Directors, to appoint Auditors for the year ending December 31, 2020 and to fix their remuneration and to elect seven (7) directors of the Company as fixed by the Board of Directors, in accordance with Section 159(1) of the Companies Act, 2017 for a term of three years commencing from May 22, 2020.

Further, the closed period of the company is from May 15, 2020 to May 21, 2020 (both days inclusive).

The announcement is available at:

https://dps.psx.com.pk/download/document/146881.pdf

Cyan Limited is a public limited company incorporated in Pakistan on April 23, 1960. The foundations of the company are laid under the Companies Act, 1913 now the Companies Ordinance, 1984. The company is a subsidiary of the Dawood Group Limited. The company is engaged mainly in providing funding to Cyan Capital for its private equity investments. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.

The company is in the phase of restructuring the operations so that new business platforms and dimensions can be explored. On November 30, 2011 the insurance license of the company was also revoked by the Securities and Exchange Commission of Pakistan. The associate companies of Cyan Limited Include Dawood Hercules Corporation Limited, Dawood Lawrencepur Limited, Dawood Corporation Private Limited, Elixir Securities Pakistan Private Limited, Sach International Private Limited, Dawood Industries Private Limited, Patek Private Limited, Pebbles Private Limited, Inbox Technologies Private Limited, Engro Corporation Limited, ABL Assets Management Company Limited, UBL Funds Manager.

The symbol "CYAN" is being used by the stock exchange for the shares of Cyan Limited.

© Pakistan Press International, source Asianet-Pakistan