Karachi: Wah Nobel Chemicals Ltd held its 41st Annual General Meeting on October 28, 2024, where several critical resolutions were adopted, impacting the company’s financial and operational strategy moving forward. The meeting, attended by shareholders and directors, was convened at the company's registered office in Wah Cantt, Pakistan.

At the outset, the company approved the minutes of the previous Annual General Meeting held on October 26, 2023, ensuring the continuity and validation of ongoing corporate strategies and decisions. Subsequently, the audited financial statements for the year ended June 30, 2024, were adopted along with the Directors’ and Auditors’ reports, affirming the company's financial health over the past year.

According to information available from the Pakistan Stock Exchange (PSX), one of the key financial outcomes of the meeting was the approval of a final cash dividend of Rs.90 million (Rs.10.00 per share) for the fiscal year ended June 30, 2024. This dividend reflects the company's commitment to delivering shareholder value and is indicative of its robust financial performance.

Additionally, Wah Nobel Chemicals reaffirmed its trust in Grant Thornton Anjum Rahman, Chartered Accountants, by reappointing them as the company’s auditors for the year ending June 30, 2025. The auditor’s remuneration was set at Rs.875,000 plus tax, covering various auditing services including the annual audit and semi-annual reviews, crucial for maintaining transparency and compliance.

These decisions highlight Wah Nobel Chemicals Ltd’s adherence to strict financial governance practices and its strategy to enhance shareholder returns amidst a dynamic market environment.