Credit of Final Cash Dividend
Published in Business Recorder, Pakistan Observer, Jang and Nawa-i-Waqt
GlaxoSmithKline Pakistan Limited
CREDIT OF FINAL CASH DIVIDEND (D-97)
FOR THE YEAR ENDED DECEMBER 31, 2019
We are pleased to announce to our shareholders that the Final Cash Dividend @60% (Rs. 6/- per share) for the year ended December 31, 2019, approved at the 73rd Annual General Meeting of the Company held on 21 May 2020 has been credited through electronic mode on June 12, 2020, directly into the designated bank accounts of those entitled shareholders who have submitted their valid Computerized National Identity Cards (CNIC) and valid International Bank Account Number (IBAN) with complete details.
In compliance with the requirements of Companies Act, 2017 and Companies (Distribution and Dividends) Regulations, 2017, it is notified that the Company has withheld dividend(s) of those shareholders who have not submitted their valid CNIC number and/or details of their designated bank account required for the credit of cash dividend.
For the release of withheld dividend, shareholders holding physical shares are advised to provide requisite details to the Company’s Shares Registrar along with a legible and valid copy of their CNIC and provide complete bank details including 24-digit IBAN by filing the form posted at the Company’s website i.e. http://www.pk.gsk.com. In the case of shares held in CDC, shareholders should provide requisite details to CDC Investor Account Services/CDS participants/Broker.
As per the Companies (Amendment) Ordinance, 2020. The Company will be following the new procedure of Dividend payout:
- According to Section 243 of the Act, the Company will make the payment of cash dividend within a period of fifteen working days from the date of its declaration.
- Where a declared cash dividend has not been claimed by a shareholder within 15 working days from the date of declaration, the Company shall, within 15 days from the date of expiry of the said period, transfer the total amount of unpaid / unclaimed dividend to a separate profit bearing account to be called the “Unpaid Dividend Account’.
- The Company within 90 days of making any deposit of the amount to the Unpaid Dividend Account, will prepare a statement comprising of the names, last known addresses, number of shares held, the amount of unpaid dividend paid to each shareholder and will place it on the Company's website.
- Any person claiming to be entitled to any money transferred to the Unpaid Dividend Account, may apply to the Company for payment of the money claimed and the Company shall make payment to the claimant within 30 days from the date of submission of claim.
- The profit generated from the said account will be used by the Company for Corporate Social Responsibility (CSR) initiatives.
By Order of the Board
Syed Azeem Abbas Naqvi
Dated: June 13, 2020