Karachi: SME Leasing Limited recently concluded its Annual General Meeting (AGM) on July 22, 2024, where audited financial statements for the year ending December 31, 2023, were approved. The term of the existing Board was completed after a three-year period.

During the AGM, it was revealed that a notice for an Extraordinary General Meeting (EOGM) has already been issued, set for August 17, 2024. This meeting is critical as it will focus on fresh elections for the Board. The AGM also addressed significant discussions concerning the future direction of the company, including considerations for a potential winding up. These matters are currently being discussed with key regulatory bodies including the Securities Exchange Commission of Pakistan, the State Bank of Pakistan, and the Ministry of Finance through the company’s parent bank, SME Bank Limited, which is wholly owned by the Ministry of Finance.

According to information available from the Pakistan Stock Exchange (PSX), SME Leasing Limited has committed to promptly informing the PSX once it receives the necessary approvals or any new information regarding its future operations. This commitment underscores the company's dedication to transparency and regulatory compliance as it navigates these pivotal discussions.

Investors and stakeholders are keenly watching the outcomes of these discussions, as they will likely influence the strategic path and financial health of SME Leasing Limited moving forward. The outcomes of the upcoming EOGM will also be critical in shaping the leadership and governance framework of the company for the next term.