Lahore: Ittehad Chemicals Limited has announced its 33rd Annual General Meeting (AGM) to be held on October 28, 2024, in Lahore, where shareholders will discuss several key proposals, including the approval of the latest financial statements and the reappointment of auditors. The company also declared a final cash dividend following a successful fiscal year.

According to information available from the Pakistan Stock Exchange (PSX), the agenda for the upcoming meeting includes the confirmation of the minutes from the last Extraordinary General Meeting held on November 20, 2023. Shareholders will also receive, consider, and adopt the Standalone and Consolidated Audited Financial Statements for the fiscal year ended June 30, 2024, along with reports from the directors, auditors, and a review by the chairman.

A notable point on the agenda is the approval of a final cash dividend of PKR 1.5 per share (15%) for the year, adding to interim dividends previously distributed at PKR 2.00 per share (20%). This declaration follows a year of robust financial performance by Ittehad Chemicals.

Further business includes the reappointment of the company’s auditors, M/s BDO Ebrahim and Co., who are standing for re-election. The AGM will also address special business items, such as the ratification and approval of transactions with related parties and associated companies as detailed in Note #48 of the Financial Statements for the year ended June 30, 2024.

The shareholders will consider a special resolution to authorize the Board of Directors to approve future transactions with related parties for the upcoming financial year ending on June 30, 2025. This includes the provision of information required under Section 134(3) of the Companies Act, 2017, which will be sent to shareholders with the notice of the AGM.

The AGM will conclude with a session allowing the transaction of any additional business with the permission of the chair.