Al Abbas Sugar Mills : Notice of Extraordinary General Meeting

as may be required and such amendment, modification, addition or deletion shall not require fresh approval of members

2. To consider, and if thought fit, to pass with or without modification, the following resolution as a Special Resolution, to substitute the clause 123 of the Articles of Association of the Company:

RESOLVED:

i. That pursuant to Section 38 and all other applicable provisions of the Companies Act, 2017, Article 123 of the existing Articles of Association of the Company be is hereby substituted to read as follows:

123. Power to capitalize.

The Board of Directors may capitalize any part of the amount for the time being standing to the credit of any of the Company's reserve accounts or to the credit of the profit and loss account or otherwise available for distribution and not required, for paying the fixed dividends on any preference shares, and accordingly that such sum be set free for distribution amongst the Members who would be entitled thereto if distributed by way of dividend and in the same proportions on condition that the same be not paid in cash but be applied either in or towards paying up any amounts for the time being unpaid on any shares held by such Members respectively or paying up in full unissued shares or debentures of the Company to be allotted and distributed credited as fully paid up to and amongst such Members in the proportion aforesaid, or partly in the one way and partly in the other, and the Directors shall give effect to such resolution.

1. That Chief Executive and Secretary of the Company be and are hereby jointly authorized to comply with all formalities in this regard.
2. That the aforesaid alteration in the Article of Association of the Company shall be subject to any amendment, modification, addition or deletion as may be required and such amendment, modification, addition or deletion shall not require fresh approval of members

3. To consider and if deemed appropriate, approve the circulation of Company's annual audited financial statements through QR enabled code and weblink as part of notice for annual general meeting and to pass the following resolution as an Ordinary Resolution, with or without modification:

Resolved that the consent and approval of the members of Al‐Abbas Sugar Mills Limited ("the Company") be and is hereby accorded and the Company be and is hereby authorized to circulate annual audited financial statements to its members through QR enabled code and weblink as part of the notice of annual general meeting.

2

Notes:

1. Closure of Share Transfer Books:
   The Share Transfer Books of the Company will remain closed from June 15, 2023 to June 21, 2023 (both days inclusive). Transfer requests on prescribed format, received at the office of the Share Registrar of the Company, M/s. CDC Share Registrar Services Limited, CDC House, 99 -B, Block B, S.M.C.H.S., Main Shahrah‐e‐ Faisal, Karachi‐74400 on or before the close of business on June 14, 2023 will be treated 'in time' for the purpose of above entitlement(s) to the transferees and/or to attend the EOGM and vote at the meeting.
2. Virtual Participation in the EOGM Proceedings:
   Shareholders interested in attending the EOGM virtually are hereby advised to get themselves registered with the Company by providing the following information through email at [e-mail];

Name of Shareholder

CNIC No.

Folio No./CDC Account No.

No. of Shares

Contact No.

Email Address

Online meeting link and login credentials will be shared with only those Members whose emails, containing all the required particulars, are received at the given email address by the end of business on Tuesday June 20, 2023. The login facility shall remain open from the start of the meeting till its proceedings are concluded.

3. Participation in the EOGM:

All members, entitled to attend and vote at the meeting, are entitled to appoint another person in writing as their proxy to attend and vote on their behalf. A proxy must be a member of the Company. In case of corporate entities, power of attorney or other authority / board resolution under which it is signed or a notarially attested copy of power of attorney lodged at the Company's Registered Office address: Pardesi House, Survey No. 2/1, R.Y.16, Old Queens Road, Karachi at least 48 hours before the time of the meeting. The Form of Proxy is attached with this notice.

CDC account holders will further have to follow the below mentioned guidelines as laid down by the Securities and Exchange Commission of Pakistan.

A. For Attending the Meeting:

1. In case of individuals, the account holders or sub‐account holders whose registration details are uploaded as per the Regulations shall authenticate his/her original valid CNIC or the original passport at the time of attending the meeting.

4