Karachi: Fecto Cement Limited has scheduled its 43rd Annual General Meeting (AGM) for October 28, 2024, at the Royal Rodale Sports and Recreational Complex in Karachi, according to a recent notice sent to the Pakistan Stock Exchange. The meeting is set to discuss the audited financial statements of the year ended June 30, 2024, among other key agenda items.
The upcoming AGM aims to confirm the minutes of the last meeting held on October 28, 2023. The attendees will also receive, consider, and adopt the company’s audited financial statements for the financial year ended June 30, 2024, along with the directors’ and auditors’ reports. According to information available from the Pakistan Stock Exchange (PSX), a crucial point on the agenda is the appointment of auditors for the fiscal year ending June 30, 2025, with M/s. Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants, being nominated for reappointment.
Additionally, the shareholders will elect six directors as mandated by the company’s board. The elections are in compliance with Section 159(1) of the Companies Act, 2017, for a three-year term starting November 01, 2024. The retiring directors eligible for reelection include Mr. Mohammed Yasin Fecto, Mr. Khalid Yacoob, Mr. Amir Ghani, Mr. Jamil Ahmed Khan, Mr. Muhammad Anwar Habib, and Ms. Saira Ibrahim Bawani.
The AGM will also include discussions on any other business that may arise with the permission of the Chair.