Multan: The Thal Industries Corporation Limited has announced the convening of its 71st Annual General Meeting (AGM) of shareholders, scheduled to take place on January 27, 2025. The meeting will be held at the company’s registered office in Multan and will also be accessible via an electronic video link through the Zoom application. This hybrid approach aims to ensure broader participation in the company’s decision-making process.
The AGM will address several key items of ordinary business. Firstly, the minutes of the Extraordinary General Meeting held on September 27, 2024, will be reviewed and confirmed. The meeting will also focus on the adoption of the Annual Audited Financial Statements for the fiscal year ending September 30, 2024. These statements, accompanied by the respective reports from the auditors and the Board of Directors, will be presented for shareholder consideration and approval.
One of the significant agenda items is the proposal to approve a final cash dividend for the year ending September 30, 2024. The Board of Directors, in their meeting on December 24, 2024, recommended a cash dividend of Rs. 2.50 per share, representing a 25% payout. This proposal will require approval from the shareholders during the AGM.
Additionally, the meeting will involve the appointment of auditors for the upcoming financial year, ending September 30, 2025. The current auditors, M/s. Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants, based in Lahore, have retired but are eligible and have offered themselves for re-appointment. Shareholders will be asked to approve their re-appointment and determine their remuneration.
According to information available from the Pakistan Stock Exchange (PSX), The Thal Industries Corporation Limited is categorized within the manufacturing sector, and its performance is closely watched by investors and market analysts. The outcome of this AGM, especially the financial decisions and appointments, will be pivotal for the company’s strategic direction in the upcoming year.
With the AGM poised to make critical decisions, shareholders and stakeholders alike are keenly anticipating the resolutions and their potential impact on the company’s future operations and market performance.