Karachi: Merit Packaging Limited has officially submitted resolutions passed during its Annual General Meeting (AGM) to the Pakistan Stock Exchange (PSX), as mandated by regulatory guidelines.

According to information available from the Pakistan Stock Exchange (PSX), the communication, dated October 28, 2024, was addressed to the General Manager of PSX by Mansoor Ahmed, the company's Secretary. The document enclosed a certified extract of resolutions adopted by Merit Packaging Limited's shareholders during the AGM held on October 25, 2024.

The resolutions confirm the ratification of transactions with associated companies and related parties, as previously disclosed in Note No. 45 of the audited financial statements for the fiscal year ending June 30, 2024. These transactions are described as routine operations necessary for the company’s daily functions and have now been formally approved for continuation in the upcoming fiscal year.

Furthermore, the resolutions empower the Chief Executive Officer of Merit Packaging Limited to oversee and authorize all such transactions for the next fiscal year ending June 30, 2025. This delegation of authority is designed to ensure that the company maintains its operational efficiency without delays in decision-making processes related to its business dealings with associated entities.

The prompt submission of these resolutions in accordance with clause 5.6.9. (b) of PSX Regulations highlights Merit Packaging Limited’s commitment to compliance and transparency in its corporate governance practices.