Karachi: Security Investment Bank Ltd. has announced the approval of several key financial resolutions during its Annual General Meeting held on April 29, 2025. These resolutions reflect the company's strategic decisions for the fiscal year ending December 31, 2024.

The meeting confirmed the minutes from the previous year's AGM, held on April 29, 2024. Among the resolutions passed, the audited financial statements for the year ending December 31, 2024, were approved. The dissemination of these statements will be facilitated through a QR-enabled code and web-link, as recommended by the Board of Directors.

The shareholders also approved the appointment of M/s. Muniff Ziauddin & Co, Chartered Accountants, as the auditors for the fiscal year ending December 31, 2025. The remuneration for the auditors, as suggested by the Audit Committee, was also sanctioned.

A significant resolution passed was the approval of a final cash dividend of Rs. 1.50 per ordinary share of Rs. 10 each. This dividend pertains to the financial year ended December 31, 2024, and will be distributed to shareholders listed on the register as of April 22, 2025.

Additionally, the meeting approved the sale of Commercial Plot No. 49-C, Radar commercial area, street 12, Phase V, DIM Karachi, measuring 200 square yards. The plot will be sold to M/s ARY Laguna (Pvt) Ltd for an agreed price of Rs. 120.00 million. The payment will be deferred over three years, as advised by the Board of Directors.

According to information available from the Pakistan Stock Exchange (PSX), Security Investment Bank Ltd. operates within the designated market category of the financial sector. These resolutions are part of the company's ongoing efforts to streamline its operations and enhance its financial position.