Karachi: Synthetic Products Enterprises Limited has announced the successful adoption of multiple key resolutions during its Annual General Meeting held on October 26, 2024. The company confirmed the adoption of audited financial statements for the fiscal year ended June 30, 2024, approved a final cash dividend, and appointed new auditors, marking significant financial and governance milestones.

The primary focus of the meeting was the acceptance of the financial statements for the year ended June 30, 2024, which included detailed directors' and auditors' reports. According to information available from the Pakistan Stock Exchange (PSX), these documents were adopted unanimously by the shareholders, ensuring regulatory compliance and transparency in the company’s financial practices.

In addition to the financial statements, the shareholders approved a final cash dividend of Rs. 0.8 per share, equating to a 16% dividend. This declaration aligns with the company's tradition of rewarding its shareholders and reflects its continued financial health and commitment to returning value to its investors.

Furthermore, the AGM saw the appointment of KPMG Taseer Hadi and Co. as the statutory auditors for the fiscal year 2024-25. The Chief Executive Officer has been authorized to finalize the remuneration for the auditors, ensuring the continuation of robust external financial oversight.

The meeting also included the election of directors for a three-year term, signaling a strategic refresh in the company’s leadership. The newly elected directors, including Mr. Almas Hyder, Mr. Haroon Sharf, Mr. Ameen Ahsan, Dr. Nighat Arshad, Mr. Zia Hyder Naqi, Dr. Syed Sohail Hussain Naqvi, and Mr. Abid Saleem Khan, are set to bring diverse experiences and perspectives to the board, aiming to steer the company towards sustained growth and innovation.