Karachi: Pakistan International Container Terminal Limited announced a series of resolutions approved during its 24th Annual General Meeting on May 29, 2025. The meeting, held pursuant to Clause 5.6.9 (b) of the Rule Book of the Pakistan Stock Exchange, saw various resolutions being adopted by the members of the company.
The first resolution confirmed the minutes of the previous year's Annual General Meeting, held on May 29, 2024, marking them as a fair and accurate summary of the proceedings. The minutes were approved and signed by the Chairman.
Further resolutions included the adoption of the audited financial statements for the year ending December 31, 2024. The financial documents, which encompass the Directors' Report, Chairman's Review Report, and Auditors' Report, were presented to and accepted by the meeting as per the board’s prior approval.
The company appointed Yousuf Adil, Chartered Accounts, as its statutory auditors, replacing the retiring auditors, EY Ford Rhodes, Chartered Accountants. The new auditors will serve from the conclusion of this meeting until the next Annual General Meeting, with a remuneration set at Rs. 3.77 million.
A significant financial decision was the approval of an interim cash dividend of Rs. 9.10 per ordinary share, which had already been paid during 2024. The final cash dividend was set at Rs. Nil per ordinary share, maintaining a total cash dividend of Rs. 9.10 per share for the financial year ending December 31, 2024.
The meeting also empowered the Chief Executive, Chief Financial Officer, and Company Secretary to execute all necessary actions to implement these resolutions. This includes signing and executing documents and agreements, completing legal formalities, and filing requisite documents to ensure the resolutions are effectuated.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with the company’s continued commitment to its strategic goals and operational efficiency. The decisions reflect the company's financial health and governance practices as it moves forward into the next fiscal year.