Karachi: Macter International Limited convened its Annual General Meeting (AGM) on October 26, 2024, where several significant resolutions were passed in alignment with the company's governance and future strategy.

The AGM led to the adoption and approval of the Audited Consolidated and Unconsolidated Financial Statements for the fiscal year ended June 30, 2024. These documents, along with the reports from the company's auditors and directors, received the necessary approval from the members present, marking a crucial compliance step for the company.

According to information available from the Pakistan Stock Exchange (PSX), the shareholders also approved a final cash dividend of Rs. 1.00 per share, which translates to a 10% dividend, as recommended by the board. This move reflects Macter International's ongoing commitment to delivering shareholder value amidst varying market conditions.

Further resolutions included the appointment of M/s A. F. Ferguson and Co., Chartered Accountants, as the company's auditors for the fiscal year ending June 30, 2025. The AGM granted the Chief Executive Officer and Chief Financial Officer the authority to negotiate and finalize the auditor's remuneration for the upcoming fiscal year, ensuring that the company maintains its robust financial oversight mechanisms.

Additionally, the company was authorized to modernize its communication with shareholders by circulating its Annual Report and other statutory documents through QR enabled codes and web links, a method supported by the requirements of Notification No. S.R.O. 389(I)/2023 issued by the Securities and Exchange Commission of Pakistan.

These resolutions underscore Macter International's proactive approach in adapting to regulatory requirements and embracing technology to enhance transparency and engagement with its investors.