Karachi: Sitara Energy Limited has scheduled its Annual General Meeting (AGM) for October 28, 2024, to be held at Karachi. The meeting will address several key points of business, including the adoption of financial statements and the reappointment of auditors for the coming fiscal year.
The company aims to approve the minutes from the last Annual General Meeting held in October 2023 and to receive, consider, and adopt the audited financial statements for the fiscal year ended June 30, 2024. These statements will be accompanied by the reports from the company’s directors and auditors.
Another significant agenda item is the retirement and subsequent replacement of the company’s auditors, M/s. RSM Avais Hyder Liaquat Nauman, Chartered Accountants. The Board of Directors has recommended M/s. RSM Auditer Liaquat Nauman as the new auditors for the fiscal year ending June 30, 2025.
In addition to these operational points, the shareholders will also be briefed about the conversion of physical shares into book-entry form as mandated by the Securities and Exchange Commission of Pakistan (SECP). This transition aims to facilitate transactions and avoid the issuance of duplicate shares.
For participation, shareholders are required to either be present or appoint proxies who should register at least 48 hours before the meeting. Identification for both attendees and proxies will need to be verified against their National Identity Card or Passport.
According to information available from the Pakistan Stock Exchange (PSX), shareholders who have not yet submitted copies of their National Identity Cards for registration are reminded to do so to facilitate their participation in the voting process. Additionally, the electronic circulation of annual reports will be available to shareholders who opt for this method by email or CD/DVD, ensuring comprehensive access to company information.
The company also highlighted that all financial statements for the year ended June 30, 2024, will be available on their official website and urged shareholders to update any changes in their addresses to receive all relevant documents and notifications concerning the AGM and other company matters.