Karachi: Altern Energy Limited held its 32nd Annual General Meeting on October 26, 2026, where several key resolutions were passed. The meeting took place at the company's registered office, drawing attendance for the consideration of both ordinary and special business matters.

During the ordinary business session, the minutes of the previous Extraordinary General Meeting held on December 31, 2025, were confirmed. Members were informed that the draft minutes had been shared with those present. The minutes were approved and signed by the Chairman and the Company Secretary.

The company also presented and adopted the Annual Audited Financial Statements for the fiscal year ending June 30, 2026. This included the Directors' and Auditor's reports, as well as the consolidated financial statements. These documents were unanimously approved, reflecting the company's financial position and performance over the past year.

A significant decision involved the reappointment of the company's external auditors. M/s Grant Thornton Anjum Rahman & Co., Chartered Accountants, who had retired, offered themselves for reappointment. The board, following the Audit Committee's recommendation, approved their reappointment for the year ending June 30, 2027.

According to information available from the Pakistan Stock Exchange (PSX), special business conducted during the meeting included a resolution to authorize the sale of certain company assets. The resolution, passed with consent from the members, allows for the disposal of plant and machinery, stores, spare parts, and other consumables located at the company's plant site in Fateh Jang, District Attock, Punjab. The board was given authority to finalize the sale on terms deemed in the best interest of shareholders.

This strategic move reflects Altern Energy's ongoing efforts to optimize its asset base and align with market demands. As part of the resolution, the company's Chief Executive Officer and Company Secretary are empowered to negotiate, enter into agreements, and execute necessary documents to complete the asset sale.

The resolutions passed at this meeting mark a significant step in Altern Energy's operational and financial management, setting the stage for future developments.