Karachi: National Refinery Limited (NRL) has scheduled its 61st Annual General Meeting (AGM) for October 21, 2024, at the Marriott Hotel in Karachi, with provisions for electronic participation. This key meeting is set to review the company’s annual financial results and appoint new directors.

The agenda for this significant gathering includes the approval of the Audited Financial Statements for the fiscal year ending June 30, 2024. The meeting will also see the election of seven directors for a three-year term starting from the day of the meeting, as outlined by Section 159 of the Companies Act, 2017. Directors up for re-election include Mr. Laith G. Pharaon, Mr. Wael G. Pharaon, Mr. Shuaib A. Malik, Mr. Shamim Ahmad Khan, Mr. Sajid Nawaz, Mr. Abdus Sattar, and Mr. Khondamir Nusratkhujaev.

Additionally, shareholders will appoint the company’s auditors for the upcoming fiscal year and determine their remuneration. According to information available from the Pakistan Stock Exchange (PSX), this event is critical for shareholders to engage directly with the board and influence the company’s strategic directions.

The Share Transfer Books will be closed from October 11, 2024, until the date of the AGM, October 21, 2024. Share transfers received at the Karachi-74400 office by the close of business on October 10, 2024, will be eligible for the entitlement to the transferees, allowing them to participate and vote in the upcoming AGM.

National Refinery Limited is poised to continue its growth trajectory, backed by strong governance and strategic leadership decisions made during these annual meetings. This gathering is crucial for shareholders and potential investors, providing a transparent view of the company’s financial health and future plans.