Karachi: FECTO CEMENT LIMITED has announced its 43rd Annual General Meeting (AGM) to be held on October 28, 2024. The meeting will take place at Karachi. This gathering is scheduled to discuss various operational matters following the guidelines laid out by the Companies Act, 2017.

The agenda for the upcoming meeting includes the confirmation of the minutes from the last AGM held on October 28, 2023. Additionally, members will review and adopt the Audited Financial Statements for the fiscal year ended June 30, 2024, alongside the reports from the company's directors and auditors. According to information available from the Pakistan Stock Exchange (PSX), the appointment of auditors for the fiscal year ending June 30, 2025, will also be on the docket, including the setting of their remuneration.

Further significant activities at the meeting will involve electing six directors for a term of three years, which will commence on November 1, 2024. The nominees for these positions include existing members who are retiring but eligible for re-election: Mr. Mohammed Yasin Fecto, Mr. Khalid Yacoob, Mr. Aamir Ghani, Mr. Jamil Ahmed Khan, Mr. Muhammad Anwar Habib, and Ms. Salra Ibrahim Bawani. Notably, Saudi Pak Industrial and Agriculture Investment Company Limited's representative, Mr. Rohail Ajmal, is a nominee, although this company is not subject to re-election or retirement after this election.

The board's overall composition will be adjusted to seven directors, complying with Section 154(4) of the Companies Act, 2017. Attendees will also have the opportunity to transact any other business as permitted by the chair of the meeting.