Islamabad: Kohinoor Energy Limited conducted its 31st Annual General Meeting (AGM) on October 24, 2024, at Islamabad, where shareholders passed several key resolutions regarding the company’s financial and governance framework for the upcoming fiscal year.

According to information available from the Pakistan Stock Exchange (PSX), the shareholders resolved to approve the Annual Audited Financial Statements for the financial year ended June 30, 2024. This includes the Chairman's Review along with the Directors' and Auditors' Reports, all of which were received, adopted, and approved during the meeting.

The shareholders also sanctioned the distribution of an aggregate dividend of 145%, broken down into three interim payments: 40% (Rs. 4.00 per share), an unspecified percentage amounting to Rs. 5.50 per share, and 50% (Rs. 5.00 per share). This cumulative dividend totals Rs. 14.50 per share for the financial year 2023-2024.

Furthermore, the meeting confirmed the appointment of M.S A. F. Fergusson and Co. Chartered Accountants, Lahore, as the company's auditors for the financial year ending June 30, 2025. The appointed firm will conduct a limited scope review of the 2nd Quarter/Half Year Accounts for the period ending December 31, 2024, and the audit of Annual Accounts for the FY ending June 30, 2025, at a remuneration of Rs. 663,000 and Rs. 2,675,000, respectively.

In matters of governance, the AGM saw the election of seven directors who will serve on the company's board for a term of three years commencing from October 30, 2024. These include Mr. M. Naseem Saigol, Mr. Muhammad Zeid Yousuf Saigol, Mr. Muhammad Murad Saigol, Syed Manzar Hassan, Mr. Muhammad Omer Farooq, Ms. Sadaf Kashif, and Mr. Faisal Riaz, with the latter three serving as independent directors.