Karachi, Kot Addu Power Company Limited has officially announced its 27th Annual General Meeting (AGM), scheduled to take place on October 24, 2023, in Islamabad. The meeting will also be accessible through a video link, ensuring broader participation.
The AGM's agenda includes various significant matters, both routine and pivotal, which will be deliberated upon during the gathering:
Ordinary Business:
1. Confirmation of Minutes: The first item of business is to confirm the Minutes of the 26th Annual General Meeting held on October 27, 2022.
2. Review of Annual Audited Accounts: Shareholders will receive, consider, and adopt the Annual Audited Accounts of the Company for the fiscal year ending on June 30, 2023. These financial statements will be presented alongside Directors' and Auditor's Reports.
3. Approval of Cash Dividend: Shareholders will vote on the approval of the final cash dividend of Rs. 5.00 per share, equivalent to 50% for the year ending on June 30, 2023. This dividend is in addition to the interim dividend of Rs. 3.50 per share, amounting to 35%, which has already been disbursed. In total, shareholders have received a cash dividend of Rs. 8.50 per share, accounting for 85% during the fiscal year.
4. Appointment of Auditors: The AGM will appoint Auditors for the year concluding on June 30, 2024. Present Auditors, Messrs. A. F. Ferguson & Co., Chartered Accountants, are eligible for reappointment and have offered themselves for the same.
Additionally, as part of standard operating procedures, the share transfer books of Kot Addu Power Company Limited will remain closed from October 18, 2023, to October 24, 2023, encompassing both days.
This AGM represents a crucial platform for shareholders to actively engage in the company's decision-making process, review its financial performance, and contribute to the determination of dividends and other key matters. The company's commitment to transparency and adherence to regulatory practices ensures that shareholders' interests are duly upheld.