Karachi: Atlas Battery Limited hosted its 58th Annual General Meeting on September 27, 2024, both in-person in Karachi and online via Zoom, where several critical resolutions were passed under the purview of Regulation No. 5.6.9 (b) of the Pakistan Stock Exchange Rule Book.

The meeting saw the confirmation of minutes from the previous Annual General Meeting held on September 30, 2023, ensuring the continuity and accuracy of the company's corporate records. Additionally, shareholders approved the Audited Annual Financial Statements for the year ended June 30, 2024. These documents, accompanied by the Chairman's Review, Directors', and Auditors' Reports, were formally adopted, affirming the company's financial health and operational success over the past fiscal year.

According to information available from the Pakistan Stock Exchange (PSX), a pivotal resolution was the approval of a substantial final cash dividend of 200%—equating to Rs.20.00 per share—for the fiscal year ended June 30, 2024. This dividend will be disbursed to the shareholders registered in the member's ledger as of the close of business on September 12, 2024, highlighting Atlas Battery's commitment to delivering shareholder value.

Furthermore, the meeting endorsed the reappointment of the company's auditors, M/s. ShineWing Hameed Chaudhri and Co., Chartered Accountants, for the new fiscal year ending June 30, 2025. This decision followed recommendations from both the Audit Committee and the Board of Directors, setting the audit fee at Rs.2,200,000.

The AGM also empowered the Secretary of the Company or any director to implement the approved resolutions, authorizing them to undertake necessary actions to ensure compliance and operational efficacy going forward.