Lahore: Descon Oxychem Limited, in its 21st Annual General Meeting held on Wednesday, October 22, 2025, successfully passed several key resolutions, confirming adherence to corporate governance and financial accountability. The meeting took place at the company’s registered office, with shareholders actively participating in the decision-making process.

The meeting commenced with the confirmation of the minutes from the previous Annual General Meeting held on October 16, 2024. Shareholders approved the minutes, which had been previously distributed for review, marking the first resolution of the day.

The assembly proceeded to address the second agenda item, which involved receiving, considering, and adopting the audited financial statements for the fiscal year ending June 30, 2025. According to information available from the Pakistan Stock Exchange (PSX), the financial statements, along with the accompanying auditors' and directors' reports, received unanimous approval from the shareholders.

In a subsequent agenda item, the shareholders appointed M/s Crowe Hussain Chadhury & Co., Chartered Accountants, as the statutory auditors for the ensuing year ending June 30, 2026. The appointed auditors, who had retired but expressed willingness to continue, were reappointed without opposition. The Board of Directors will determine their remuneration.

The final resolution saw the approval of a 20.00% cash dividend, equivalent to PKR 2.00 per ordinary share. This dividend payment is designated for members listed on the company's register as of October 14, 2025. The resolution was passed after a brief discussion and received unanimous support, reflecting the company's healthy financial position and commitment to returning value to its shareholders.

The resolutions passed during this meeting underscore Descon Oxychem Limited's commitment to maintaining transparency and delivering shareholder value in the designated market category.