Karachi: The shareholders of Arif Habib Corporation Limited convened for their Thirtieth Annual General Meeting on November 27, 2024, in Karachi, where they approved the company's annual audited financial statements and other key resolutions. The meeting saw the adoption of financial reports for the year ending June 30, 2024, alongside the reappointment of the external auditors.

During the assembly, the shareholders endorsed the Directors' and Auditors' Reports, as well as the Audited Consolidated Financial Statements for the specified period. The meeting also addressed resolutions concerning special business transactions, including related party dealings and investments in associates. These decisions were reached by shareholders participating in person, by proxy, or through e-voting and postal ballots.

According to information available from the Pakistan Stock Exchange (PSX), the meeting included a resolution approving M/s. A. F. Ferguson and Co., Chartered Accountants, as the external auditors for the fiscal year ending June 30, 2025. The Board of Directors has been authorized to determine the auditors' remuneration for the upcoming year.

The shareholders further approved a final cash dividend of Rs. 7 per share, representing a 70% payout, as recommended by the Board. This approval marks another step in the company’s financial proceedings for the year.

The minutes from the meeting will be submitted to the Exchange within the required timeframe, ensuring compliance with PSX regulations. Certified copies of the resolutions passed are annexed for record-keeping and regulatory adherence.