Hub Chowki: Bolan Castings Limited conducted its 42nd Annual General Meeting on October 24, 2024, at its registered office in Hub Chowki. The meeting saw the passage of significant resolutions which underscore the company’s ongoing adherence to corporate governance and fiscal discipline, according to information available from the Pakistan Stock Exchange (PSX).

During the meeting, shareholders confirmed the minutes from the previous year's Annual General Meeting held on October 28, 2023. The confirmation reflects the company's commitment to transparency and its continuous efforts to maintain accurate and timely records of its corporate proceedings.

Additionally, the shareholders received, considered, and adopted the audited financial statements for the fiscal year that ended on June 30, 2024. These documents, including the Chairman's Review, Directors' Report, and Auditors' Report, were approved, indicating a robust financial performance and compliance with regulatory requirements.

A crucial decision made during the meeting was the appointment of M/s. A.F. Ferguson and Co., Chartered Accountants, as the auditors for the upcoming financial year ending on June 30, 2025. The remuneration for the auditors was set at PKR 1.575 million for the annual audit, PKR 315,000 for the half-yearly limited scope review, and PKR 105,000 for reporting on the statement of compliance with the Listed Companies (Code of Corporate Governance) Regulations 2019. This move ensures that Bolan Castings continues to uphold high standards of financial scrutiny and governance.

These resolutions are part of Bolan Castings’ strategy to maintain high standards of corporate governance and financial transparency, essential for sustaining investor confidence and supporting future growth.