Lahore: Rupali Polyester Limited has scheduled its 44th Annual General Meeting (AGM) for October 30, 2024, at its headquarters in Lahore, aiming to address several key corporate matters, including the election of directors and the approval of financial statements.

The meeting is set to take place at the company's head office on Upper Mall Scheme, Anand Road, Lahore PST. According to the notification sent to the Pakistan Stock Exchange (PSX), shareholders will review the company's audited financial statements for the fiscal year ended June 30, 2024. The agenda also includes the election of seven directors for a three-year term, with names like Mrs. Ayesha Fayyaz and Mr. Shazad Farooq among the nominees.

In financial details disclosed ahead of the AGM, Rupali Polyester reported transactions with related parties totaling over 1.49 billion rupees in the last fiscal year, primarily through sales and purchases with associated companies such as Rupafil Limited and Rupali Nylon (PVT) Limited. These transactions, outlined for transparency, are scheduled for shareholder ratification during the meeting.

Moreover, the company proposes several resolutions for the upcoming AGM, including the approval of a dividend payment. The exact dividend rate will be confirmed during the meeting, aligning with the company’s performance and financial health as detailed in the annual report.

According to information available from the Pakistan Stock Exchange (PSX), this year's AGM will also feature the use of digital tools to facilitate shareholder participation, with a web link provided for online access to the meeting and electronic voting.

Rupali Polyester continues to engage its shareholders transparently, ensuring compliance with corporate governance standards and fostering an inclusive approach to corporate decisions. The upcoming AGM represents a significant annual event where shareholders will decide on critical aspects of the company's direction and governance for the coming years.