SECP has recently made amendments in the Companies (Postal Ballot) Regulations, 2018 whereby the right to vote through electronic voting facility must be provided to members of every listed company for all businesses classified as special business under the Companies Act 2017 and in case of election of directors, if the number of persons who offer themselves to be elected is more than the number of directors fixed under subsection (1) of section 159 of the Companies Act, 2017.
In this regard, CDC Share Registrar Services Limited (CDCSR), a wholly owned subsidiary of Central Depository Company of Pakistan Limited, conducted a series of awareness sessions regarding these recent amendments in the Regulations during the second & third week of March 2023 in CDCSR’s Karachi and Lahore Offices and invited representatives of listed companies.
These sessions, hosted by CDCSR representatives, included detailed presentation, system demo and Q&A sessions. It must be highlighted here that CDCSR, being a proactive industry leader, has already been providing e-voting services since 2018 and is therefore fully capable of optimizing the challenges faced by capital market stakeholders due to the subject amendments.
These sessions were successful as the companies showed their confidence and willingness to opt for the e-voting solution offered by CDCSR for their upcoming events. CDCSR has successfully extended its eVoting facility to leverage the shareholders of National Bank of Pakistan, Faysal Bank Limited, United Bank Limited , Askari Bank Limited, Allied Bank Limited, Sazgar Engineering Works Limited & Synthetic Products Limited etc. during the month of March 2023.
