Karachi: Pakistan PVC Limited has announced that its 61st Annual General Meeting (AGM) is scheduled for October 18, 2024, at the company's registered office in Shaffiabad. The meeting aims to address key corporate matters, including the election of new board members and approval of financial accounts.

According to information available from the Pakistan Stock Exchange (PSX), the AGM will review the minutes of the previous meeting held on October 20, 2023. Additionally, shareholders will consider the audited financial statements for the year ended June 30, 2024, alongside the directors' and auditors' reports.

A significant agenda item for this year's meeting is the election of a new Board of Directors for a three-year term, replacing the retiring directors: Mr. Arif Shaffi, Mr. Abdullah Shaffi, Mrs. Saira Shaffi, Mr. Mohammed Shaffi, Mr. Mohammad Iqbal, Mr. Arshad Javaid, and Mr. Adeel Shaffi.

Furthermore, the AGM will appoint auditors for the fiscal year ending June 30, 2025, and determine their remuneration. Special business to be discussed includes approving the remuneration package for the chief executive and two full-time working directors, proposed by the Board of Directors. The package includes a gross annual remuneration of Rs. 1.5 million each, along with additional benefits such as company car use, telephone, medical, and other company-regulated perks.

The meeting will also provide an opportunity to address any other business with the permission of the chair, ensuring all shareholder concerns are appropriately managed.