Karachi: At the recently concluded Annual General Meeting (AGM) of AKD Hospitality Ltd., held on October 27, 2026, shareholders confirmed several key resolutions, including the adoption of the company's financial statements and the election of directors.

During the meeting, held in accordance with the company's schedule, the minutes of the previous AGM conducted on October 28, 2025, were formally confirmed by the shareholders. This was followed by the approval and adoption of the Audited Annual Financial Statements for the fiscal year ending June 30, 2026. The statements were presented alongside the Chairman's Review, the Directors' Report, and the Auditors' Report.

In line with the agenda, shareholders also approved the appointment of M/s Riaz Ahmad & Co., Chartered Accountants, as the external auditors for the year ending June 30, 2027. The remuneration for the auditors will be mutually agreed upon between the company's Board of Directors and M/s Riaz Ahmad & Co., ensuring it remains within a reasonable limit compared to the previous year.

A significant development at the AGM was the election of directors. Seven individuals had submitted their candidacy for the board positions, matching the number fixed by the company's Board, as per Section 159(1) of the Companies Act, 2017. The individuals elected, without contest, for a term beginning October 25, 2026, and concluding on October 24, 2029, include Mr. Nadeem Saulat Siddiqui, Ms. Huma Khurram Rashid Paracha, Ms. Uzma Paracha, Mr. Kanwar Adeel Zaman, Mr. Mian Asif Maqbool Sukhera, Mr. Aamir Nazir Dhedhi, and Mr. Muhammad Qasim.

According to information available from the Pakistan Stock Exchange (PSX), AKD Hospitality Ltd.'s recent AGM outcomes further consolidate the company's governance and financial strategy as it moves forward into the next fiscal year. The confirmation of the financial statements and the seamless election of directors underscore the shareholders' confidence in the company's leadership and strategic direction.