Lahore: Notice has been issued for the 46th Annual General Meeting of Baba Farid Sugar Mills Limited shareholders, scheduled for January 28, 2025. The meeting will take place at the company’s registered office in Lahore, with an option for remote participation via video link or the Zoom application.
The meeting’s agenda includes several key items of business. Firstly, the minutes from the 45th Annual General Meeting, held on January 27, 2024, will be confirmed as submitted to the Pakistan Stock Exchange (PSX). This procedural step ensures that all stakeholders are aligned on past resolutions and decisions.
Shareholders will also receive, consider, and adopt the annual audited financial statements for the fiscal year ending September 30, 2024. The financial review will include detailed reports from both the company’s auditors and its Board of Directors, offering transparency and insight into the company’s financial health and strategic direction.
Another significant item on the agenda is the appointment of auditors for the next financial year, ending September 30, 2025. The current auditors, M/s. BDO Ebrahim and Co. Chartered Accountants, have retired but are eligible for reappointment. Their previous service and expertise will be considered as shareholders decide on their reappointment and remuneration.
In compliance with section 159 of the Companies Act 2017, the meeting will also involve the election of nine directors for the upcoming three-year term, commencing on January 28, 2025. The retiring directors, including Mr. Muhammad Shamim Khan, Mr. Adnan Ahmed Khan, and Mrs. Sarah Hajra Khan, among others, are all eligible for re-election. This election will shape the future leadership and governance of the company.
According to information available from the Pakistan Stock Exchange (PSX), these proceedings are crucial for maintaining regulatory compliance and ensuring that shareholders’ interests are represented effectively.
Baba Farid Sugar Mills Limited, operating in the sugar production sector, continues to engage its shareholders in pivotal corporate governance processes, reinforcing its commitment to transparency and strategic growth.