Sialkot: GOC (Pak) Limited convened its 63rd Annual General Meeting on October 14, 2026, in Sialkot, where shareholders approved several significant resolutions as part of both ordinary and special business agendas.
During the meeting, the company's audited financial statements for the fiscal year ending June 30, 2026, were unanimously approved by the members, alongside the Chairman's Review, Directors' Report, and Auditors' Report. This unanimous approval underscores the company's commitment to maintaining transparency and accountability in financial reporting.
The shareholders also approved a cash dividend of 20.00%, equivalent to Rupees 2.00 per ordinary share, for the year ended June 30, 2026. This decision reflects the company's ongoing efforts to deliver value to its shareholders in alignment with its financial performance.
In a move to ensure continued financial oversight, Messrs. Tabussum Saleem & Company, Chartered Accountants, Lahore, were appointed as the company's auditors for the year ending June 30, 2027. The remuneration for the audit services will be determined following the directives of the Institute of Chartered Accountants of Pakistan, with reimbursement of all out-of-pocket expenses related to the audit.
The election of directors was a notable item on the agenda. Eight individuals, including Khawar Anwar Khawaja and Khurram Anwar Khawaja, were elected without contest to serve as directors for a three-year term commencing October 14, 2026, and ending October 13, 2029. The election process adhered to Section 159(3) of the Companies Act, 2017, and was confirmed by the members present.
According to information available from the Pakistan Stock Exchange (PSX), the resolutions also covered several special business items. The meeting ratified and approved related party transactions as disclosed in Note 33 to the company's audited financial statements for the year ended June 30, 2026. Furthermore, the board was authorized to approve related party transactions on a case-to-case basis for the financial year ending June 30, 2027, subject to applicable provisions of the Companies Act, 2017.
Finally, the board's approved transactions will be presented to the members at the next Annual General Meeting for formal ratification and approval, ensuring ongoing shareholder involvement in corporate governance matters.