Karachi, Pakistan Refinery Limited (PRL) has officially announced its Sixty-third (63rd) Annual General Meeting, scheduled to take place on September 27, 2023. The meeting will be held both at the Company's premises in Karachi and through a video-link facility to accommodate participants remotely, ensuring a broader and more accessible forum for shareholders to engage.
The AGM agenda includes the following key business matters:
Ordinary Business:
1. Audited Financial Statements Approval: Shareholders will deliberate on and approve the Audited Financial Statements of Pakistan Refinery Limited for the fiscal year ending June 30, 2023. This discussion will be accompanied by comprehensive reports from the Board and the Auditors, shedding light on the company's financial performance over the past year.
2. Appointment of Auditors: The AGM will also determine the appointment of the Company's Auditors for the year ending June 30, 2024. Additionally, shareholders will set the remuneration for the appointed Auditors.
3. Election of Directors: In accordance with the provisions of section 159(1) of the Companies Act 2017, shareholders will participate in the election of Ten (10) Directors of Pakistan Refinery Limited. These Directors were nominated by the Board of Directors during their Meeting held on August 18, 2023, and will serve a three-year term starting from October 8, 2023.
The Annual General Meeting serves as a vital platform for shareholders to exercise their rights and contribute to the strategic direction of Pakistan Refinery Limited. The company is committed to upholding transparency and ensuring that all shareholders have the opportunity to participate, whether in person or remotely through the video-link facility.
Shareholders are encouraged to mark their calendars for this important event, where they can actively engage in discussions and decisions that will shape the future of Pakistan Refinery Limited. Further details and instructions on how to participate in the AGM, whether physically or via video-link, will be communicated to shareholders in due course.