Karachi: Shareholders of Citi Pharma Limited convened for the company's Annual General Meeting on October 28, 2024, where they unanimously passed several resolutions critical to the company's financial and operational directives. The meeting confirmed the minutes of the prior year's AGM, adopted the audited financial statements, appointed external auditors, and approved a cash dividend payout.

The assembly approved the minutes from the last AGM held on October 27, 2023, and adopted the audited financial statements for the fiscal year ending June 30, 2024. The financial statements, audited by M/s. Aslam Malik and Co., Chartered Accountants, were presented alongside the auditor’s report.

Shareholders confirmed the appointment of M/s. Aslam Malik and Co. as the external auditors for the fiscal year ending June 30, 2025. The remuneration for the auditors was set by the Board of Management.

A key highlight of the AGM was the approval of a final cash dividend of Rs. 3.25 per share, equating to 32.5% for the financial year ending June 30, 2024, as recommended by the Board of Management.

According to information available from the Pakistan Stock Exchange (PSX), the AGM also included a poll for a special resolution. Out of 8,759 total members representing 228,461,200 shares, 189 shareholders, representing 104,746,941 shares, participated via e-voting, postal ballot, and in-person proxy. E-voting accounted for 32.8% of the capital, postal ballots 13.0%, and in-person/proxy 0.0%.

The poll for the special resolution saw 177 shareholders, representing 104,731,643 shares or 99.9854% of votes cast, voting in favor. Only 12 shareholders, representing 15,298 shares or 0.0146% of votes, opposed the resolution. No votes were rejected.

The AGM's resolutions are set to steer the company’s strategic and financial planning into the next fiscal year.