Karachi: Aisha Steel Mills Limited conducted its Nineteenth Annual General Meeting on Saturday, October 28, 2023, in Karachi where significant resolutions were passed by the shareholders.

The shareholders unanimously adopted the annual audited financial statements of the company for the year ended June 30, 2023, along with the Directors' and the Auditors' Reports. Additionally, resolutions concerning related party transactions and the circulation of accounts were approved.

A notable resolution from the meeting was the election of directors, who have been elected unopposed and will take office from October 31, 2023. The shareholders, both present in person and represented by proxies, confirmed this election unanimously.

All the resolutions, including those regarding the approval of other agenda items, were passed by the shareholders present in person, represented by proxies, or participating through postal ballot and who were entitled to vote.

In compliance with the Pakistan Stock Exchange (PSX) Regulations, a certified true copy of the resolutions passed during the Annual General Meeting has been enclosed as Annexure-1.

Key resolutions from the meeting included the approval of the minutes from the Eighteenth Annual General Meeting held on October 28, 2022, with authorization for the Chairman to sign the minutes as a token of confirmation. Additionally, the annual audited financial statements for the year ended June 30, 2023, were approved and adopted.

M/s. A. F. Ferguson and Co., Chartered Accountants, were reappointed as external auditors for the year ending June 30, 2024, as recommended by the Board of Directors, who are also authorized to fix the remuneration of the external auditors for the said period.

Furthermore, the election of directors of Aisha Steel Mills Limited in accordance with section 159 of the Companies Act, 2017, for a term of three years commencing from October 31, 2023, was approved.