Karachi: Security Papers Limited has announced it will hold its 59th Annual General Meeting (AGM) on September 25, 2024. The AGM will focus on several key business matters, including the adoption of audited financial statements and the declaration of a final cash dividend.

According to information available from the Pakistan Stock Exchange (PSX), the primary agenda for the upcoming AGM includes the receipt, consideration, and adoption of the company’s financial statements for the year ended June 30, 2024. These statements, along with the Directors' and Auditors' Reports, are accessible online through a provided weblink and QR code, in compliance with Section 223 of the Companies Act, 2017 and S.R.O. 389(1)2023 dated March 21, 2023.

In addition to financial oversight, the meeting will address the approval of a final cash dividend of Rs. 10.00 per share, which is a 100% dividend. This is in addition to a 25% interim dividend already paid, culminating in a total annual dividend of Rs. 12.50 per share for the financial year. The dividend will be payable to shareholders registered as of September 18, 2024.

Another significant item on the agenda is the reappointment of the company’s external auditors, M/s. A. F. Ferguson and Co., Chartered Accountants, for the financial year 2024-25. The Board, following the recommendation of the Board Audit Committee, has proposed their reappointment, with the auditors having already consented to continue in their role.

The AGM will also allow for the transaction of any other business permissible under the chair’s discretion, as is standard for such meetings.