Cherat Packaging Limited Sets Date for 35th Annual General Meeting

Peshawar: Cherat Packaging Limited has announced that its 35th Annual General Meeting (AGM) will take place on October 15, 2024, in Peshawar and will be accessible via video link. This meeting aims to discuss crucial financial decisions and operational strategies for the upcoming fiscal year.

The AGM, scheduled for mid-October, will include the confirmation of minutes from the previous meeting held on October 24, 2023. Attendees will also review and adopt the audited financial statements for the fiscal year that concluded on June 30, 2024, which include both directors’ and auditors’ reports.

A significant item on the agenda is the approval of a final cash dividend of 35% (Rs. 3.50 per share). This follows an interim dividend of 10% (Rs. 1.00 per share), already distributed among shareholders for the fiscal year ended June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), this move reflects the company’s solid financial performance and commitment to returning value to its shareholders.

Furthermore, shareholders will appoint the audit firm M/s. Grant Thornton Anjum Rahman – Chartered Accountants for the upcoming fiscal year ending June 30, 2025, and will discuss their remuneration. Special business to be conducted includes the ratification of transactions with related parties and associated companies as disclosed in the financial statements. A resolution will also be proposed to authorize the Board of Directors to enter and approve transactions with related entities for the next fiscal year.

Notices of the AGM have been dispatched to TRE Certificate Holders and are slated for publication in the ‘Business Recorder’ and ‘Nawa-e-Waqt’ newspapers on September 24, 2024. This move ensures compliance with regulatory requirements and keeps the shareholders informed of significant corporate decisions.

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