Lahore: Descon Oxychem Limited has officially announced that its 20th Annual General Meeting (AGM) will be convened on October 16, 2024, in Lahore. The meeting aims to discuss several key points pertinent to the company’s operations and financial health over the past fiscal year.
The agenda for the AGM includes the confirmation of the minutes from the last meeting held on October 18, 2023. Additionally, shareholders will review, consider, and potentially adopt the Annual Audited Financial Statements for the year ended June 30, 2024, along with the Directors' and Auditors' reports. This year’s meeting will also include a review of the Annual Audited Consolidated Financial Statements together with the Auditor's report.
According to information available from the Pakistan Stock Exchange (PSX), a significant item on the agenda is the reappointment of the external auditors, Crowe Hussain Chaudhary and Co., Chartered Accountants, for the upcoming fiscal year ending June 30, 2025. Their remuneration will also be discussed and fixed during the meeting.
Another critical financial decision includes the approval of a final cash dividend of 20% (PKR 2.00 per ordinary share) for the fiscal year ended June 30, 2024, as recommended by the Board of Directors. This move underscores the company’s ongoing commitment to delivering value to its shareholders.
The AGM will also provide a platform for any additional business that may arise, with the permission of the Chair.