Lahore: Service Global Footwear Limited held its 6th Annual General Meeting on April 28, 2025, where shareholders approved key financial resolutions, including the renewal of a substantial investment in a holding company.

During the meeting, shareholders of Service Global Footwear Limited approved the audited financial statements for the year ending December 31, 2024. The approval encompassed the Directors' and Auditors' Reports, as well as the Chairman's Review Report, which were presented to the members.

The shareholders also sanctioned the final cash dividend of Rs. 4 per share, representing 40% for the financial year concluded on December 31, 2024. This decision aligns with the recommendations made by the company's Board of Directors.

In ordinary business matters, the re-appointment of M/s. Riaz Ahmad & Company as statutory auditors was approved. Shareholders authorized the Chief Executive to negotiate and finalize the auditors' remuneration.

A crucial aspect of the meeting was the renewal of an investment in the form of a working capital loan amounting to PKR 4.50 billion in Service Industries Limited, a holding and associated company. According to information available from the Pakistan Stock Exchange (PSX), this renewed investment, initially approved by shareholders on April 26, 2024, is extended until June 30, 2026.

The resolution granted authority to Mr. Hassan Javed, the Chief Executive Officer, along with Directors Mr. Arif Saeed and Mr. Omar Saeed, to execute the investment decision. They are empowered to undertake necessary actions and complete the required documentation to implement the resolution.

These resolutions reflect Service Global Footwear Limited's strategic financial planning and ongoing commitment to its shareholders.