Karachi, Macter International Limited has officially announced that its Annual General Meeting (AGM) is scheduled to take place on October 20, 2023, in Karachi. The AGM aims to address various important matters, both routine and significant.

Agenda for Ordinary Business:

1. Financial Statements Adoption: Shareholders will receive, review, and adopt the Audited Consolidated and Unconsolidated Financial Statements of the Company for the fiscal year ending on June 30, 2023. The reports from both the Directors and the Auditors will also be considered.

2. Final Cash Dividend: Shareholders will vote on the approval and declaration of a final cash dividend at the rate of Re. 0.54 per share, equivalent to 5.4%, for the financial year concluding on June 30, 2023. This dividend, as recommended by the Board of Directors, will be in addition to the interim cash dividend of 5.4%, Re. 0.54 per ordinary share, which has already been distributed.

3. Auditor Appointment: The AGM will involve appointing Auditors and determining their remuneration for the year ending June 30, 2024. The retiring auditors, M/s. EY Ford Rhodes, Chartered Accountants, have decided not to seek re-appointment. As a result, both the Board Audit Committee and the Board of Directors have endorsed the appointment of A. F. Ferguson & Co., Chartered Accountants, a member firm of the PwC network, as Statutory Auditors for the fiscal year ending on June 30, 2024.

This AGM promises to be a pivotal event for Macter International Limited as it addresses crucial financial matters and future audit arrangements. Shareholders will have the opportunity to voice their opinions and cast their votes on these key agenda items.