Sheikhupura: Nimir Industrial Chemicals Limited (NICL) has scheduled its 31st Annual General Meeting (AGM) for October 28, 2024, at Sultan Grand Hotel, near Housing colony, Lahore-Faisalabad By-pass. The agenda includes the adoption of audited financial statements for the year ended June 30, 2024, and the approval of a 25% cash dividend.

The shareholders of NICL will deliberate on key resolutions, such as approving the audited financial statements, including the Chairman’s review and the independent auditors' reports. They will also decide on the distribution of a final cash dividend of Rs. 1.5 per share, in addition to an interim dividend already paid at Re. 1 per share.

According to information available from the Pakistan Stock Exchange (PSX), the AGM will address the appointment of auditors for the fiscal year ending June 30, 2025. The Audit Committee and Board of Directors have recommended M/s BDO Ebrahim & Co. as the external auditors.

Special business to be discussed includes the adoption of modern technology for distributing annual reports via QR codes and web links, ensuring compliance with SECP's guidelines. Additionally, the AGM will consider the proposed winding-up of the company’s subsidiary in Uzbekistan, Nimir Overseas LLC, due to non-approval of required sanctions from the State Bank of Pakistan within the stipulated time.

NICL also emphasized the continued transition to digital and electronic formats for shareholder communication and dividend distribution, in line with regulatory requirements aimed at improving efficiency and accessibility.