Rawalpindi: The 32nd Annual General Meeting (AGM) of Fauji Cement Company Limited (FCCL) was convened in Rawalpindi on October 18, 2024, where shareholders passed key resolutions concerning the company's audited financial statements, the appointment of auditors for the next fiscal year, and the payment of a final cash dividend.

The AGM led to the approval of the annual audited accounts for the financial year 2023/24, which concluded on June 30, 2024. The financial statements, along with the auditors' and directors' reports, were presented and adopted. These documents had been previously circulated to members for review and were laid before the chairman as recommended by the board.

Additionally, a significant resolution was passed regarding the appointment of the statutory auditors for the fiscal year 2024/25. M/s A.F. Ferguson and Co., Chartered Accountants, were appointed as the statutory auditors until the conclusion of the next AGM. Their remuneration was fixed at a total of Rs. 5,000,000, covering various auditing duties including the annual audit, half-yearly review, compliance report, CDC reconciliation, and out-of-pocket expenses.

According to information available from the Pakistan Stock Exchange (PSX), the shareholders also resolved to approve a final cash dividend of Rs. 1.00 per share, which represents a 10% dividend on ordinary shares with a face value of Rs. 10 each. This dividend applies to all shareholders registered as of October 7, 2024, and was recommended by the board during its 161st meeting held on August 27, 2024.

These resolutions, as adopted during the meeting, have been certified as true copies, underscoring their validity and the transparency of the meeting proceedings.