Lahore: Fidelity Capital Management (Private) Limited has announced the postponement of its Board of Directors meeting originally scheduled for 7th October 2024. The meeting, set to take place at the company's premises on Canal Bank, Gulberg II, Lahore, is delayed due to pending audits of the financial statements for the fiscal year ended 30th June 2024.

The board was expected to review and approve the audited accounts for First Fidelity Leasing Modaraba among other agenda items. However, the incomplete audit has necessitated a delay in these proceedings. The company has also sought an extension for holding its annual review meeting under Section 132 of the Companies Act 2017 to accommodate this adjustment.

According to information available from the Pakistan Stock Exchange (PSX), such postponements are critical as they affect the timely reporting and transparency required by regulatory authorities and stakeholders. This delay underscores the importance of adhering to stringent financial controls and the potential impacts of audit processes on corporate disclosures.

Fidelity Capital Management has communicated that a new date for the Board of Directors meeting and the Annual Review Meeting will be announced shortly. This notification has been sent to TRE Certificate Holders of the Exchange to ensure all regulatory compliance and stakeholder communication is maintained.