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Webinar Registration Link for PCL 37th Annual General Meeting PDF Print E-mail
Thursday, 08 July 2021 10:08

Webinar Registration Link for PCL 37th Annual General Meeting Click here

 
Notice of the 37th Annual General Meeting PDF Print E-mail
Tuesday, 15 June 2021 08:03

                                                                                                                                     PCL logo2017

 

NOTICE OF ANNUAL GENERAL MEETINGNOTICE IS HEREBY GIVEN THAT THE THIRTY-SEVENTH ANNUAL GENERAL MEETING OF THE COMPANY WILL BE HELD AT SUNBIRD CAPITAL HOTEL, LILONGWE ON FRIDAY 9TH JULY 2021 STARTING FROM 14:00 HOURS.

CONSIDERING the continuing health impact of COVID-19, the Guideline from Malawi Stock Exchange, related governmental orders and guidance; and

MINDFUL of the need to maintain close interaction with its shareholders,

The BOARD has determined that the 2021 Annual General Meeting be held in a hybrid manner, by providing an opportunity for a limited number of shareholders to attend the meeting physically and for those shareholders who may not be able to attend physically, to participate virtually, through a link that will be provided to all shareholders and in accordance with the procedures set out below.

PROCEDURES FOR HOLDING THE MEETING:

1. A limited number of shareholders will be permitted to attend the meeting physically. Shareholders who wish to attend physically must register their interest by contacting the Company Secretary by Friday, 25th June 2021. The list of attendees will be determined on a first-come-first-served basis. At the meeting, COVID-19 preventive measures will be strictly adhered to.

2. The AGM Pack consisting of the Notice, Agenda, Minutes, a Proxy Form and Annual Report will be made available on the PCL website (www.presscorp.com) from 14th June 2021 onwards. A few hard copies will be available at the venue of the meeting.

3. Shareholders who wish to attend the meeting or to have copies of the AGM Pack sent to them by email or WhatssApp must provide their contact details and indicate their preference by contacting the Company Secretary as follows:


By email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
By WhatsApp: +265 888 557 888

4. Shareholders can raise any questions on any agenda item by addressing them to the Company Secretary (through the contacts listed above) by email or WhatsApp starting from 18th June to 30th June 2021.

5. The Company will collate all questions (and their answers) and publish these anonymously on its website on 2nd July 2021.

6. Selected questions and answers will be commented upon by the Chairperson during the online meeting.

7. To facilitate the process, the Company requests shareholders who may wish to attend the meeting either physically in person (or by proxy) or virtually to register their email addresses or WhatsApp numbers by 25th June, 2021. Further, shareholders are strongly encouraged to vote in advance of the Annual General Meeting, even if they are planning to log-in and attend virtually.


BUSINESS TO BE TRANSACTED AT THE MEETING:

1. MINUTES OF LAST ANNUAL GENERAL MEETING

To confirm the minutes of the last Annual General Meeting held on 17th July 2020.

2. FINANCIAL STATEMENTS

To receive the audited Financial Statements of the Company for the year ended 31st December 2020, together with the reports of the Directors and Auditors thereon.

3. DIVIDEND

To declare a final dividend of MK3.0 billion representing MK25.00 per share in respect of 2020 profits as recommended by the Directors. An interim dividend amounting to MK721.20 million representing MK6.00 per share was paid on 26th October 2020 bringing the total dividend for the year to MK3.72 billion representing MK31.00 per share.


4. APPOINTMENT OF AUDITORS

To re-appoint Deloitte, Certified Public Accountants, as auditors for the ensuing year and to authorise the Directors to determine their remuneration.


5. DIRECTOR’S RE-ELECTION

To re-elect Mr Stewart Malata who retires by rotation and, being eligible, offers himself for re-election.

6. EXECUTIVE DIRECTORS’ REMUNERATION

To authorise Directors to determine the remuneration of Executive Directors.

7. NON-EXECUTIVE DIRECTORS FEES AND SITTING ALLOWANCES

To fix the Fees and Sitting Allowances of the Chairman and other Non-Executive Directors with effect from 1st January 2021 as follows:

Directors Fees:

⦁ Chairman - MK13,530,000.00 per annum payable quarterly in arrears (up from MK12,296,928.00)

⦁ Non-Executive Directors - MK11,300,000.00 per annum payable
quarterly in arrears (up from
MK10,281,600.00)

Sitting Allowances:

⦁ Board Chairman - MK605,000.00 per sitting (up from
MK550,000.00 per sitting)

⦁ Committee Chairperson - MK550,000.00 per sitting (up from
MK500,000.00 per sitting)

⦁ Non-Executive Directors - MK520,000.00 per sitting (up from
MK470,000.00 per sitting)

8. OTHER BUSINESS

To transact such other business as may be transacted at an Annual General Meeting of which prior notice should have been given to the Company Secretary not less than 21 days before the date of the forthcoming Annual General Meeting.


Dated the 4th day of June 2021

BY ORDER OF THE BOARD

BENARD M W NDAU
COMPANY SECRETARY

Registered Office
Press Corporation plc
3rd Floor, PCL House, Top Mandala
Kaohsiung Road
P O Box 1227
BLANTYRE

NOTES

1. A member entitled to attend and vote at the meeting is entitled to appoint a proxy (or proxies) to attend and vote on its/his/her behalf. A proxy need not be a member of the Company.

2. The instrument appointing a proxy and the power of attorney or other authority, if any, under which it is signed or notarially certified copy of that power of attorney or authority shall be deposited at the Company Secretary’s office not less than forty-eight (48) hours before the time appointed for holding the meeting and in default the instrument of proxy shall not be treated as valid. The instrument appointing a proxy shall be in the form attached hereto or forms as near thereto as circumstances admit.

3. At the above meeting it will be proposed that a final dividend amounting to MK3.0 billion (2019:MK2.40 billion) representing MK25.00 per share (2019: MK20 per share), be paid on Friday, 27th August 2021 to members whose names appear on the register as at the close of business on 20th August 2021.

 

 

 
PCL staff donate Christmas presents to QECH patients PDF Print E-mail
Monday, 21 December 2020 09:52

 Ndau right and fellow PCL staff member Dalitso Chawuwa carry Christmas parcels for distribution to patients at QECH

Press Corporation plc staff members on Friday took time off their duties to cheer and donate presents to patients at Queen Elizabeth Central Hospital (QECH) in Blantyre as part of festive season.
Staff members presented assorted humpers worth K2 million to patients in various wards including children oncology wards.

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Press Corporation plc gives K3 million to Media Council PDF Print E-mail
Tuesday, 27 October 2020 14:11

PCL COVID-19 Response: Group CEO for PCL, Dr. Geroge Partridge (left) makes a symbolic presentation to Director of Health and Social Services at Blantyre District Health Office, Dr Gift Kawalazira, at the Kameza Isolation Centre site.Conglomerate Press Corporation plc has given K3 million to Media Council of Malawi (MCM) for revamping its secretariat. The money will be used for office logistics and equipment including the in-house printing of accreditation cards for journalists.

Presenting the cheque in Blantyre on Wednesday, Press Corporation plc General Counsel Benard Ndau said they decided to respond positively to MCM’s request because as a company, Press Corporation plc believes in media freedom and transparency and the promotion of ethical standards in the media.

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Mwadiwa appointed new Press Corporation plc Chairman PDF Print E-mail
Wednesday, 09 September 2020 14:06

Mr Randson Mwadiwa Chair

Press Corporation plc Board of Directors have appointed former Secretary to the Treasury Randson Mwadiwa as its new Board Chairman following the retirement of former Chairman Patrick Khembo.

Mwadiwa was appointed to his new position following a Press Corporation plc board meeting held in Blantyre on Monday.

Press Corporation plc Company Secretary Bernard Ndau confirmed of Mwadiwa’s appointment and two other new non-executive directors on the board.

“Apart from the appointment of Mr. Mwadiwa as Chairman of the Board, two other non-executive directors were also appointed namely Mr. Dye Mawindo and Mrs. Betty Mahuka,” said Ndau.

Khembo together with other two directors Ben Chidyaonga and Estelle Nuka retired from the Press Corporation plc board recently.

Mwadiwa holds a Bachelor of Arts Degree in Public Administration, Master of Arts in Public Administration and another Master of Arts in Industrial Affairs.

After graduating from the University of Malawi’s Chancellor College in 1978, Mwadiwa joined Commercial Bank of Malawi as a Management Trainee before joining the Malawi Civil Service in 1979 where he severed in various positions until he retired in 2016.

Among other positions that he served in the civil service include Secretary to the Treasury, Secretary for Agriculture, Secretary for Energy and Natural Resources, Secretary for Gender and Children, Secretary for Transport and Public Works and Secretary for Industry and Trade.

Mwadiwa has also served on a number of parastatal boards for a number of years and currently consults on Public Finance Management and Public Service Reforms.

Press Corporation plc which is listed on the Malawi Stock Exchange (MSE), is one of Malawi’s largest conglomerates with interests in different sectors of the Malawi economy including financial services, telecommunications, food and beverage, energy and consumer goods.

By Mc Donald Chapalapata, a Contributor

 
Election of Chairman of The Board of Directors PDF Print E-mail
Tuesday, 08 September 2020 11:01

Mr Randson Mwadiwa Chair

PRESS CORPORATION PLC (PCL) is pleased to announce that at its 163rd Meeting held on Monday, 7th September 2020, the Company’s Board of Directors elected Mr Randson Mwadiwa as the new Chairman of the Board. Mr Mwadiwa succeeds Mr Patrick Khembo who retired from the Board on 21st August 2020 after serving as director for five years.

Mr. Mwadiwa is an accomplished public administrator, with particular interest and expertise in public finance management as well as public sector reforms. He has had a distinguished and enviable public service record spanning over a period of 40 years, during which he rose to serve as Principal Secretary in various ministries including Ministries of Finance, Trade and Industry, and Energy and Natural Resources. In this role, he had close interaction at high level with private sector players and was instrumental in ensuring an effective interface between public and private sector interests.

Mr Mwadiwa has previously served, and continues to serve, on several boards in the private as well as public sectors.

The Board and Executive Management of PCL express their gratitude to Mr Khembo for his commitment and leadership; and, congratulate Mr Mwadiwa on his election as Chairman and wish him success.

By Order of the Board
signature board

BENARD M.W NDAU
COMPANY SECRETARY

Dated this 7 th day of September 2020

 
Labour Minister Kandodo visits PCL offices PDF Print E-mail
Wednesday, 29 July 2020 09:23

DSC 0003CMinister of Labour Ken Kandodo on Tuesday 28th July 2020 visited offices of Press Corporation plc at PCL House, Top Mandala in Blantyre.

The newly appointed minister said he thought of interacting with Press Corporation plc management on the task of creating 1 million jobs.

“We thought we should engage and share ideas on the creation of 1 million jobs with Press Corporation plc being one of the largest conglomerates in the country,” said Kandodo who was flanked with Principal Secretary for Labour Dr Esmie Kainja and other technocrats in the ministry.

In his remarks, Press Corporation plc Group Chief Executive Officer Dr George Partridge said creating 1 million jobs is possible and can be done.

“We pledge our support towards the creation of 1 million jobs. It is possible and it can be done given the right environment,” said Dr Partridge.

He called on the minister to push for Labour Law Reforms saying some laws are skewed towards one side which makes it difficult to create a conducive environment for job creation.

Dr Partridge also called on government to address challenges regarding unfair and uncertain interpretation of laws by regulatory authorities and lack of level playing field by regulators generally, and in respect of the interpretation and enforcement of tax laws specifically which have seen some of its subsidiary companies like Castel Brewery Malawi laying off workers because of tax issues.

 

“We also want government to be flexible to give licenses to independent power producers. We had partners who were ready to invest with us in the power sector but they left frustrated because government could not give us power licenses yet when they went to Mozambique and Zambia they had not problems and one tend to wonder what is wrong with Malawi?” said Dr Partridge.

 

He also asked government to address issues of tax evasions and counterfeit products saying it is disheartening for tax compliance companies like Press Corporation plc and its subsidiaries such as PTC to be victims of others who do not pay tax and bring counterfeit products and choke production of genuine products who also pay tax to government.

 
PCL delists from London Stock Exchange PDF Print E-mail
Wednesday, 29 July 2020 07:44

Khembo centre addresses the Virtual AGM flanked by PCL Group Chief Executive Officer Dr George Partridge left and PCL Company Secretary Bernard Ndau

PCL delists from London Stock Exchange

Conglomerate Press Corporation plc has delisted from the London Stock Exchange (LSE) as a global depository receipt following a review of continued benefits of listing on the bourse.

Press Corporation plc Board Chairman Patrick Khembo told the company’s Annual General Meeting (AGM) which was held virtually due to the Covid-19 pandemic in Blantyre on Friday that Press Corporation plc delisted on LSE on 10th July 2020.

“I would like to inform all shareholders that, following our application, the Company was delisted from the London Stock Exchange with effect from 10th July 2020. The Board took the decision following a careful and thorough assessment of the benefits of our continued listing on the London Stock Exchange.”

“The factors that were considered included the extremely low trading volumes for the past years; huge regulatory, compliance and administrative costs the Company incurs annually; the likely liquidity benefits that a cancellation could trigger on the local market,” said Khembo.

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Trading statement in respect of the six months period ending June 2020 PDF Print E-mail
Thursday, 02 July 2020 12:28

PRESS CORPORATION PLC
COMPANY REG. NUMBER 4029

In terms of the Listings Requirements of the Malawi Stock Exchange Limited, a listed company is required to publish a trading statement as soon as there is a reasonable degree of certainty that the financial results for the period to be reported upon next will differ by at least 20% from that of the previous corresponding period.

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Notice of virtual Annual General Meeting PDF Print E-mail
Tuesday, 30 June 2020 06:25

AGM-Notice-Thumb2020NOTICE OF VIRTUAL ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN THAT THE THIRTY-SIXTH ANNUAL GENERAL MEETING OF THE COMPANY WILL BE HELD VIRTUALLY ON FRIDAY, 24TH JULY 2020 AND COORDINATED FROM PCL HOUSE, BLANTYRE STARTING FROM 14:00 HOURS.

 

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National Bank of Malawi Plc and Press Corporation Plc donates medical equipment to Kameza Isolation Centre worth MK18 million as part of COVID-19 response. PDF Print E-mail
Tuesday, 26 May 2020 18:34

PCL COVID-19 Response: Group CEO for PCL, Dr. Geroge Partridge (left) makes a symbolic presentation to Director of Health and Social Services at Blantyre District Health Office, Dr Gift Kawalazira, at the Kameza Isolation Centre site.PCL COVID-19 Response: Group CEO for PCL, Dr. Geroge Partridge (left) makes a symbolic presentation to Director of Health and Social Services at Blantyre District Health Office, Dr Gift Kawalazira, at the Kameza Isolation Centre site.

As part of Covid 19 response PCL and National Bank, one of its subsidiaries joined hands and made a combined donation of various Medical Covid related materials to Kameza Isolation Centre and College of Medicine respectively. The donation totalled K35 million split in two between the two centres.

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