Karachi: Lucky Cement Limited has successfully conducted its 31st Annual General Meeting, implementing key financial and administrative resolutions, including the approval of a hefty cash dividend and the election of directors for a new term. The meeting took place on September 26, 2024, at the company's registered office in Pezu, Khyber Pakhtunkhwa.

The shareholders of Lucky Cement convened to review and adopt the audited financial statements for the fiscal year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the directors' and independent auditors' reports were also approved. One of the key financial decisions included the approval of a final cash dividend of Rs. 151 per share, amounting to 150.00% of the share value, as recommended by the board.

Moreover, the shareholders elected seven directors unopposed for a three-year term starting September 26, 2024. The elected directors include Mr. Muhammad Ali Tabba, Mr. Muhammad Sohail Tabba, Mr. Jawed Yunus Tabba, Ms. Mariam Tabba Khan, Mr. Masood Karim Shaikh, Mr. Khawaja Iqbal Hassan, and Mr. Shabbir Hamza Khandwala. The assembly also resolved to re-appoint M/s. A. F. Ferguson and Co., Chartered Accountants of Karachi, as the company's external auditors for 2025.

In addition, the meeting addressed multiple resolutions regarding related party transactions. These transactions for the fiscal year ended June 30, 2024, were ratified, and further approvals were granted for potential future transactions. The Board of Directors was authorized to oversee and approve such dealings, with an assurance of full disclosure in future general meetings.

These resolutions underscore Lucky Cement’s compliance with PSX regulations and its commitment to transparency and robust corporate governance.