Karachi: The 10th Annual General Meeting of Air Link Communication Limited, held on October 28, 2023, in Lahore, Pakistan, culminated with the passage of several significant resolutions, which were shared in accordance with Rule 5.6.9 (b) of the Rule Book of the Pakistan Stock Exchange Limited.

The shareholders collectively decided to receive, consider, and adopt the Financial Statements of Air Link Communication Limited for the Financial Year ended June 30, 2023, along with the associated Statutory Auditors and Directors' Reports. This marks a pivotal point in the company’s annual financial review and accountability process.

In the realm of auditing and financial oversight, the Members settled on appointing BDO Ebrahim and Co. Chartered Accountants as the Statutory Auditors of the company for the forthcoming financial year, ending June 30, 2024. Additionally, the Board of Directors has been granted the authority to negotiate and finalize the remuneration for the appointed auditors for the ensuing year.

The shareholders approved and declared a final cash dividend at the rate of 25%, equating to Re. 2.50 per share of Rs. 10.00 each held by the members. This decision marks a significant financial disbursement to the shareholders, reflecting the company’s performance and stability.

Furthermore, the election of Directors was addressed. Given that the number of candidates offering themselves for election aligned with the number fixed by the Board in accordance with Section 159(1) of the Companies Act, 2017, the following individuals are deemed to be elected as Directors of the Company for a term of three years, starting from October 30, 2023:

Mr. Aslam Hayat Piracha

Mr. Muzzaffar Hayat Piracha

Ms. Rabiya Muzzaffar

Mr. Sharique Azim Siddiqui

Mr. Hussain Kuli Khan

Mr. Aqdus Faraz Tahir

Syed Nafees Haider

These resolutions and electoral outcomes collectively shape the corporate governance and financial trajectory of Air Link Communication Limited for the upcoming years.