Karachi: Safe Mix Concrete Limited held its 18th Annual General Meeting (AGM) on October 25, 2024, at Karachi, where several key resolutions were adopted, impacting the company's future operations and shareholder returns. This included the approval of the audited financial statements for the year ended June 30, 2024, and the declaration of a 20% final cash dividend.

The company's AGM confirmed the minutes from the previous year's meeting, held on October 16, 2023, and approved the annual financial statements and auditor's reports. According to information available from the Pakistan Stock Exchange (PSX), this meeting was crucial in aligning the company’s strategies with market expectations and regulatory requirements.

Additionally, the AGM resulted in the appointment of Rahim Iqbal Rafiq, Chartered Accountants, as the auditors for the fiscal year ending June 30, 2025. The board was also authorized to fix the auditors' remuneration. Another significant resolution passed included authorization for the board to approve transactions with related parties for the financial year ending June 30, 2025, under sections 207 and 208 of the Companies Act, 2017.

This resolution is set to enhance transparency and maintain rigorous compliance with corporate governance standards, which is seen as a positive step towards safeguarding shareholder interests and enhancing corporate trust and integrity.