Change of Statutory Auditors at Company Announced in Shareholders Meeting

Karachi, A significant development in the corporate governance of a listed company was announced following a recent Annual General Meeting (AGM) held on January 16, 2024. The company, adhering to Section 96 of the Securities Act, 2015 and Clause 5.6.1(a)(xii) of PSX Regulations, has informed the Pakistan Stock Exchange (PSE) about a change in its statutory auditors.

During the AGM, the shareholders of the company made a key decision to appoint Messers A. F. Ferguson & Co., Chartered Accountants, as the new statutory auditors. This appointment marks a transition from the company’s previous auditors, Messers EY Ford Rhodes, Chartered Accountants.

The change of auditors is a routine process in corporate governance, allowing companies to ensure the integrity and effectiveness of their financial reporting. This decision by the shareholders reflects their trust and confidence in Messers A. F. Ferguson & Co. to uphold the financial transparency and accountability of the company.