Karachi: AGP Limited announced a corrigendum to its Annual Report 2024, citing inadvertent errors in its initial release. The report, originally disseminated to shareholders on March 19, 2025, was found to contain several inaccuracies that have now been addressed.
According to the company, the corrections pertain to the unconsolidated and consolidated financial statements. On page 240, Note 30 of the Unconsolidated Financial Statements, adjustments were made to the Chief Executive’s remuneration details. The Bonus and Performance incentive rows have been merged, correcting the Bonus amount to Rs.76,274 for 2024. This adjustment brings the total Chief Executive Remuneration for 2024 to Rs.127,731. These amounts are presented in the financial statement as Rupees in 000s.
Further corrections on the same page include the adjustment in the number of directors, which was corrected to six for 2024 and seven for 2023. Additionally, Note 30.2 now accurately reflects the number of non-executive directors, with four for 2024 and five for 2023.
The adjustments extend to Page 137 in the Directors’ Report, where Note 30 of the unconsolidated financial statements is referenced, as well as Page 286, Note 29 of the Consolidated Financial Statements. These changes ensure that the financial documentation aligns with the actual company structure and remuneration details.
According to information available from the Pakistan Stock Exchange (PSX), these modifications are crucial for maintaining accurate and transparent financial reporting. The revised Annual Report 2024, incorporating these corrections, has been uploaded to AGP Limited’s official website. Shareholders can access the report at https://agp.com.pk/financial-statements/.
AGP Limited operates within the designated market category of the Pakistan Stock Exchange, where accurate financial disclosures are pivotal for investor confidence and regulatory compliance. The company’s prompt correction of these errors underscores its commitment to transparency and accountability in financial reporting.