Karachi: Intermarket Securities Limited has conducted its Annual General Meeting, resulting in the approval of several resolutions, including the adoption of its audited financial statements for the year ending December 31, 2024, and the reappointment of its auditors. The meeting, held on April 28, 2025, saw the acceptance of the company’s financial documents and the confirmation of Rahman Sarfraz Iqbal Rafiq as auditors for the transition period ending June 30, 2025.
The resolutions approved during the meeting include the adoption of the company’s audited financial statements, along with the accompanying Directors' and Auditors' reports. These documents cover the financial year ending December 31, 2024, and were accepted without objection. This approval marks a significant step as the company shifts its financial year from a December end to a June end.
Additionally, the meeting included the reappointment of Rahman Sarfraz Iqbal Rafiq, Company Chartered Accountants, as the auditors for the transition period ending June 30, 2025. This reappointment allows the auditors to continue their role, ensuring a seamless transition as the company adjusts its financial year.
Furthermore, the Chief Executive Officer of Intermarket Securities Limited has been granted the authority to negotiate and determine the remuneration for the auditors for the six-month transition period. This decision aims to provide clarity and continuity in the company's auditing processes during this adjustment phase.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with regulatory requirements and are communicated to all Trading Right Entitlement Certificate (TREC) holders of the exchange. This information is crucial for stakeholders within the designated market category.
As Intermarket Securities Limited, formerly known as EFG Hermes Pakistan Limited, progresses with these resolutions, it continues to align its operations with regulatory frameworks while facilitating transparent communication with its stakeholders.