Karachi: Ghani Global Holdings Limited has announced the approval of significant corporate and financial resolutions during its 17th Annual General Meeting held on October 26, 2024. The resolutions, which aim to strategically reposition the company’s financial and operational directives, were passed with unanimous consent among the shareholders.

Key decisions included the approval of the annual audited accounts for the fiscal year ending June 30, 2024, with all associated reports such as the Directors’ Report, Auditors’ Report, and Chairman’s Review Report on Corporate Governance. Furthermore, the shareholders consented to the reappointment of ShineWing Hameed Chaudhri and Company as the company auditors until the next annual general meeting, with their remuneration to be decided by the CEO.

According to information available from the Pakistan Stock Exchange (PSX), the meeting also resolved to divest 50,000 ordinary shares of its subsidiary, Kilowatt Labs Technologies Limited, to an appropriate buyer at no less than par value. This divestment marks a crucial step in optimizing the company’s investment portfolio.

Additionally, the shareholders agreed to increase the cross-corporate guarantee provided to Ghani Chemical Industries Limited from 1,500 million to 2,000 million rupees. This guarantee, valid for six years, will support enhanced financial flexibility and growth for the subsidiary.

These resolutions underline Ghani Global Holdings’ commitment to robust corporate governance and strategic financial management, poised to foster growth and enhance shareholder value in the evolving market landscape.