Karachi: Faran Sugar Mills Ltd successfully conducted its 43rd Annual General Meeting on January 28, 2025, at the Institute of Chartered Accountants of Pakistan, where several significant resolutions were passed by the shareholders. The meeting was in adherence to the stipulations of the Pakistan Stock Exchange, specifically clause 5.6.9.(b), which necessitates the dissemination of the approved resolutions among the TRE Certificate Holders of the Exchange.

During the meeting, shareholders confirmed the minutes from the previous Annual General Meeting held on January 26, 2024. The resolution read, "RESOLVED that the minutes of the last Annual General Meeting of the Shareholders of the Company held on January 26, 2024, be and hereby confirmed and approved."

Additionally, the financial statements of Faran Sugar Mills Ltd for the fiscal year ending September 30, 2024, were presented and adopted. The resolution stated, "RESOLVED that the Audited Financial Statements of the Company for the year ended September 30, 2024, together with Directors' and Auditors' Report thereon, be and are hereby considered and approved."

Furthermore, the appointment of M/s. Rahman Sarfaroz Rahim Iqbal Rafiq, Chartered Accountants, as the Statutory Auditors for the year 2024-2025 was confirmed with the resolution, "RESOLVED that M/s. Rahman Sarfaroz Rahim Iqbal Rafiq, Chartered Accountants, be and are hereby appointed as Statutory Auditors of the Company for the year 2024-2025."

According to information available from the Pakistan Stock Exchange (PSX), these resolutions are pivotal for maintaining the financial transparency and accountability of Faran Sugar Mills Ltd, thereby ensuring investor confidence and compliance with the regulatory framework.

The meeting and its resolutions mark a significant step in the corporate governance of Faran Sugar Mills Ltd, aligning with the broader objectives of the designated market category in which the company operates.