Karachi: SANA Industries Limited has scheduled its 290th Board of Directors meeting for September 30, 2024, in Karachi. The agenda includes approving financial statements and dividends for the fiscal year ended June 30, 2024.
The company announced a 'closed period' from September 23 to September 30, 2024, during which directors, the CEO, and executives are prohibited from trading company shares. This compliance with the Code of Corporate Governance as revised by the Securities and Exchange Commission of Pakistan (SECP) aims to prevent insider trading.
The Board will confirm the minutes of the previous meeting held on April 29, 2024, and review both unconsolidated and consolidated audited accounts of the last fiscal year, along with Auditors' and Directors' reports. According to information available from the Pakistan Stock Exchange (PSX), the meeting will also cover the approval of cash dividends and the issuance of bonus shares for the year.
Further, the Board plans to review the remuneration increase for the Chief Executive and other full-time directors. Other key items include the ratification of transactions with related parties and planning for the upcoming financial year's related party transactions.
The appointment of auditors for the next fiscal year is on the agenda, with the current auditors, Rahman Sarfaraz Rahim Iqbal Rafiq Chartered Accountants, seeking reappointment. Additionally, the Board will finalize arrangements for the 39th Annual General Meeting of Shareholders.
Any additional matters will be discussed with the Chair's permission at the meeting.