Lahore: Fast Cables Limited has scheduled its 16th Annual General Meeting (AGM) for October 28, 2024, at Lahore Chamber of Commerce Institute. The meeting will also be accessible via video conferencing to facilitate shareholder participation from diverse locations.

The company has outlined several key agenda items for this year's AGM. According to information available from the Pakistan Stock Exchange (PSX), Fast Cables Limited intends to approve the minutes from the previous AGM held on October 26, 2023. Additionally, shareholders are set to review and adopt the annual audited financial statements for the year ended June 30, 2024, which include the auditor's and director's reports. A significant highlight includes the proposal of a final cash dividend of 12.5%, equivalent to Rs. 1.25 per share, reflecting the company’s commitment to shareholder returns despite market challenges.

Moreover, the AGM will address the reappointment of auditors for the upcoming fiscal year and set their remuneration. The current auditor, Crowe Hussain Chaudhary and Company, Chartered Accountants, is recommended for reappointment. Another key item on the agenda is the election of seven directors as per the mandate of the Companies Act, 2017, for a three-year term commencing October 28, 2024. The names listed for reelection include prominent figures such as Mr. Ghulam Mustafa Kausar and Mr. Syed Mazher Iqbal, underscoring the company's focus on stability and experienced governance.

This AGM comes at a pivotal time as Fast Cables Limited continues to navigate economic fluctuations and maintains its strategic focus on growth and sustainability. The outcomes of these proceedings are crucial for setting the future direction of the company and ensuring continued compliance with corporate governance standards.