Karachi: Fecto Cement Limited has officially confirmed the passage of resolutions during its 42nd Annual General Meeting (AGM), held on October 28, 2023. The company complied with Clause 5.6.9.(b) of the Rule Book of the Pakistan Stock Exchange by providing a certified copy of these resolutions, as validated by the Company Secretary.

The AGM saw the approval of the minutes from the last Annual General Meeting held on October 28, 2022. This formal approval is a standard practice to confirm the accuracy and the actions taken since the last meeting.

Additionally, the members passed a resolution to approve the Annual Audited Financial Statements for the year ended June 30, 2023. The reports from the Directors and the Auditors were also accepted as part of this resolution, affirming the financial health and governance of the company.

A significant appointment was ratified during the meeting as well; M/s. Rehman Sarfaraz Rahim Iqbal Rafiq Chartered Accountants were reappointed as the statutory auditors of Fecto Cement Limited for the fiscal year ending June 30, 2024. The auditors will maintain their position until the next Annual General Meeting takes place.

These resolutions are part of the ordinary business conducted at AGMs, ensuring that the company maintains regulatory compliance and transparent communication with its shareholders and the Pakistan Stock Exchange.