Karachi, Indus Motor Company Limited, a prominent name in Pakistan's automotive industry, has issued a notice for its 34th Annual General Meeting (AGM), scheduled to be held on Wednesday, September 27, 2023, at 9 a.m. The AGM will take place at the Institute of Chartered Accountants of Pakistan (ICAP), Chartered Accountants Avenue, Block 8, Clifton, Karachi. Shareholders are invited to attend the meeting in person or via video link.

Agenda for the AGM:

Ordinary Business:

1. Annual Audited Financial Statements: Shareholders will review and consider the Annual Audited Financial Statements of the Company for the fiscal year ending June 30, 2023, along with the Chairman's Review and the Directors' and Auditors' Report.

2. Approval of Cash Dividend: The directors have recommended a Final Cash dividend at 290% per share, totaling Rs 29 per share for the fiscal year 2022-2023. This is in addition to the combined Interim Dividend of 428% i.e., Rs. 42.80 per share, already paid. The total dividend for 2022-2023 will thus amount to 428% i.e., Rs. 42.80 per share.

3. Auditor Appointment: Shareholders will appoint auditors for the fiscal year ending June 30, 2024. The present auditors, M/s. A.F. Ferguson & Co., Chartered Accountants, have offered themselves for re-appointment, and their remuneration will be determined during the meeting.

Closure of Share Transfer Books:

Additionally, the company has announced the closure of Share Transfer Books from September 20, 2023, to September 27, 2023 (both days inclusive) for the purpose of the AGM and payment of the Final Cash dividend.

The AGM presents an important opportunity for shareholders to engage with the company's financial performance, dividend distribution, and the appointment of auditors for the upcoming fiscal year. Indus Motor Company Limited continues to be a key player in Pakistan's automotive sector, and this meeting will provide insights into its strategic direction and financial health.

Shareholders and interested parties are encouraged to mark their calendars for this significant event in the corporate calendar of Indus Motor Company Limited. Further details and access information for the video link facility will be provided to shareholders closer to the date of the AGM.