Karachi: Sui Southern Gas Company Limited (SSGC) has received approval from the Securities and Exchange Commission of Pakistan (SECP) for an extension to hold its Annual General Meeting (AGM) and present the financial statements for the fiscal year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the extension moves the AGM date to November 29, 2024, allowing SSGC additional time to convene and discuss annual financial outcomes with shareholders.

The extension, detailed in a correspondence from SECP dated October 11, 2024, is granted under Section 132 read with Section 223 of the Companies Act, 2017. This provision within the legislation allows for such adjustments under specific circumstances, ensuring that companies can fully prepare and audit financial statements prior to shareholder review.

This decision comes in response to a formal request by SSGC dated October 4, 2024, seeking additional time to address audit and compliance matters. The approval by SECP acknowledges the need for thorough preparation and transparency in financial disclosures, critical for maintaining investor confidence and regulatory compliance.

The AGM, typically a key event for corporate governance and shareholder engagement, will focus on the financial results of the year and strategic directions for the upcoming fiscal period. SSGC has committed to maintaining open communication channels with its shareholders and ensuring that all financial reporting obligations are met with the highest standards of accuracy and integrity.