Karachi: Towellers Limited has scheduled its 51st Annual General Meeting (AGM) for October 25, 2024, at 3:30 p.m., according to an official notice. The meeting will take place at the company's headquarters in Federal B Area, Karachi.

The agenda for the upcoming meeting includes the approval of financial statements for the year ended June 30, 2024, as well as the election of eight directors for a three-year term starting October 27, 2024. The nominees listed for directorship include Mahjabeen Obaid, Mehreen Obaid Agha, Sana Bilal, Hadeel Obaid, Zeeshan K. Sattar, Vally Tariq Rangoonwala, Muhammad Sarfraz, and Niaz Muhammad.

Additionally, shareholders will be asked to approve a final cash dividend of PKR 8.00 per share for the fiscal year 2024. The company will also appoint auditors for the fiscal year 2024-2025 and decide their remuneration.

According to information available from the Pakistan Stock Exchange (PSX), the notice further outlines that the AGM will confirm the minutes from the previous year's meeting held on October 26, 2023, and will include the adoption of the audited financial statements together with reports from the Chairman, Director, and Auditor.

The meeting is crucial for shareholders to discuss and approve significant fiscal and governance matters pertinent to the company’s future direction and profitability.