Lahore: S.S. Oil Mills Limited has scheduled its Annual General Meeting (AGM) for shareholders on October 28, 2024, at the company's registered office in Lahore. Where a range of significant agendas will be addressed, including the approval of financial statements and the reappointment of directors.

The AGM will focus on the adoption of the audited financial accounts for the fiscal year ending June 30, 2024, alongside considering the auditor's report. Shareholders will also be given the opportunity to reappoint M/S Aslam Malik and Co. Chartered Accountants as the company’s auditor for the next fiscal year, setting their remuneration.

Key resolutions to be discussed include the approval of transactions with related parties, detailed in the company's financial statements, which were previously ratified, approved, and confirmed. The board will also seek to authorize these transactions for the upcoming year until June 30, 2025, adhering to the Companies Act, 2017.

Special attention will be given to the election of directors, with the meeting aiming to elect or reappoint several key positions. According to information available from the Pakistan Stock Exchange (PSX), the directors slated for consideration include Mr. Sehzad Naveen (Chairman), Mr. Sikandar Ali Khan (Vice Chairman), and Ms. Nawabzada Bogum Shamim Shafaat as directors.

Furthermore, shareholders will discuss the company’s compliance with Section 134(3) of the Companies Act, 2017 regarding the statement of material facts concerning the items listed for voting.

Participants in the AGM will have the option to join through video link, provided they pre-register for the meeting. Voting on the resolutions can also be carried out through electronic means, which requires prior registration and adherence to the stated regulations.

The AGM serves as a crucial platform for shareholder engagement and decision-making on pivotal corporate matters. The transparency and governance standards followed by S.S. Oil Mills Limited underscore its commitment to upholding shareholder interests and regulatory compliance.