Lahore: LSE Capital Limited has formally requested an extension for holding its Annual General Meeting (AGM) and for laying its financial statements for the fiscal year ending June 30, 2024. The company communicated its request through official letters to both the Pakistan Stock Exchange Limited and the Securities and Exchange Commission of Pakistan (SECP).

In a letter dated October 3, 2024, Arif Ahmad, the Chief Executive Officer of LSE Capital, indicated that the request for delay was due to the need for additional time to meet statutory requirements and finalize the financial statements. The documents submitted in support of the application included a duly signed affidavit from Ahmad, a paid challan for the fees related to the extension, audited accounts for the year ended June 30, 2023, and a letter from the company's external auditors, M/s Kreston Hyder Bhimji and Co.

According to information available from the Pakistan Stock Exchange (PSX), the Board of Directors of LSE Capital had approved the delay on October 2, 2024, via a resolution which was also submitted to the SECP. The resolution outlines the reasons for the requested extension, emphasizing the company's commitment to comply with regulatory requirements and ensure transparency in its financial disclosures.

The extension, if granted, would allow LSE Capital additional time to circulate the notice of the AGM along with the audited financial statements to its shareholders. This move is seen as crucial for maintaining investor confidence and ensuring compliance with corporate governance norms.

LSE Capital has expressed its gratitude in advance for the cooperation and support from the regulatory bodies, underscoring the importance of this extension in ensuring the accurate presentation of its financial position for the year.