Karachi: Leather Up Limited, a leading manufacturer and exporter of leather products, has announced plans for its 33rd Annual General Meeting (AGM), which will take place on October 28, 2024. The agenda includes the adoption of digital methods for distributing annual financial statements to shareholders, reflecting a shift towards modern communication technologies.

The primary focus of this year's AGM is to obtain shareholder approval for transmitting annual audited financial statements via QR-enabled codes and weblinks instead of traditional physical media like CDs, DVDs, or USBs. This change follows the Securities and Exchange Commission of Pakistan's (SECP) directive dated March 21, 2023, which allows for such digital distribution methods to streamline access and reduce environmental impact.

According to information available from the Pakistan Stock Exchange (PSX), the company's proposed resolution aims to enhance transparency and accessibility by enabling shareholders to receive and review annual reports more efficiently. Leather Up Limited believes this move will further align its operational strategies with sustainable practices while ensuring compliance with regulatory requirements.

Leather Up Limited's board of directors, re-elected for a three-year term, supports the digital transition, highlighting its potential to improve shareholder engagement and satisfaction. The adoption of these digital solutions is expected to set a precedent for other companies in the sector, promoting a broader adoption of eco-friendly and technologically advanced communication methods.