Karachi: Atlas Battery Limited has announced its Annual General Meeting (AGM) to be held on September 27, 2024, at its Karachi location and via online platforms. The AGM is set to review key company affairs including the approval of audited financial statements and consideration of a substantial final cash dividend for shareholders.

In compliance with the Pakistan Stock Exchange's Rule 5.6.9, the company has outlined the agenda for the meeting, which includes the confirmation of the minutes from the last AGM held on September 30, 2023, and the adoption of financial statements for the year ended June 30, 2024. These statements have been made available on the company’s website for shareholder review.

According to information available from the Pakistan Stock Exchange (PSX), the meeting will also address the approval of a final cash dividend of Rs.20.00 per share, marking a 200% dividend rate, as recommended by the board of directors. This follows the presentation and scrutiny of the Chairman’s Review, and the Directors’ and Auditors’ reports.

The current auditors, M/s. ShineWing Hameed Chaudhri and Co., Chartered Accountants, are set to retire and have offered themselves for reappointment. The AGM will decide on their reappointment and remuneration for the upcoming fiscal year.

Additional business may be conducted with the Chair’s permission, including the handling of operational procedural matters such as the closure of Share Transfer Books from September 13 to September 27, 2024, and guidelines for shareholders participating in the meeting either in person or through proxy representation.

Shareholders have been advised to ensure their participation rights by submitting proxy forms and requisite identification, as detailed in the meeting notice, no later than 48 hours before the AGM. Furthermore, the company has emphasized the importance of electronic submission of bank account details to facilitate direct deposit of dividends, aligning with regulatory requirements for electronic dividend payments.

The AGM will also enable shareholder participation through a video conferencing facility, providing a password-protected link to registered attendees. The company continues to encourage shareholders holding physical shares to convert these into book-entry form in line with SECP mandates, facilitating safer and more efficient share management and trading.