Karachi, Agha Steel Industries Limited, a prominent name in the steel manufacturing industry, has announced its 10th Annual General Meeting (AGM) scheduled for October 16, 2023. The AGM will be held in Karachi and made accessible through a Video Conference facility. The meeting will address essential corporate matters and transact significant business as follows:
Ordinary Business:
1. Confirmation of Minutes: The AGM will begin with the confirmation of minutes of the Extraordinary General Meeting held on June 23, 2023.
2. Financial Statements Adoption: Shareholders will receive, consider, and adopt the annual audited financial statements of Agha Steel Industries Limited for the fiscal year ending on June 30, 2023. These statements will include the Directors' and Auditors' Reports.
3. Auditors Appointment: Shareholders will appoint Auditors for the fiscal year ending on June 30, 2024, and fix their remuneration. The Board of Directors has recommended the reappointment of M/s. Reanda Haroon Zakaria & Company Chartered Accountants as external auditors.
4. Director Elections: The AGM will also involve the election of seven (07) Directors, as fixed by the Board in compliance with Section 159 of the Companies Act, 2017. These Directors will serve a term of three (03) years, commencing immediately after the conclusion of the 10th AGM.
Book Closure:
Shareholders are advised that the Share Transfer Books of Agha Steel Industries Limited will be closed from October 09, 2023, to October 16, 2023, both days inclusive. During this period, no transfers of shares will be processed.
The 10th AGM is a significant event on Agha Steel Industries Limited's calendar, providing an opportunity for shareholders to actively participate in shaping the company's future. The company remains committed to transparency, compliance, and robust corporate governance practices, ensuring that shareholders' interests are upheld.
Shareholders, stakeholders, and industry observers are expected to closely follow the developments related to the AGM and the election of Directors, as these decisions play a pivotal role in the company's corporate direction and performance.