Exide Pakistan to Hold 71st Annual General Meeting with Key Resolutions on Agenda

Karachi: Exide Pakistan Limited is scheduled to hold its 71st Annual General Meeting (AGM) on July 29, 2024, at its registered office in Karachi and via video link, to discuss several critical corporate resolutions.

The AGM will address ordinary business, including the confirmation of minutes from the previous meeting held on August 15, 2023. Shareholders will review and adopt the audited financial statements for the fiscal year ended March 31, 2024, along with directors’ and auditors’ reports. A key item on the agenda is the declaration of the final dividend for the year, as recommended by the directors, and the appointment of auditors for the fiscal year 2024-2025 with the fixing of their remuneration.

According to information available from the Pakistan Stock Exchange (PSX), the meeting is particularly significant as it comes amidst regulatory changes requiring greater transparency and shareholder engagement. Shareholders registered in the Central Depository System (CDS) are reminded to bring their original Computerized National Identity Cards and relevant account details for verification at the meeting.

The company has announced a closed period from July 23, 2024, to July 29, 2024, during which no share transfers will be processed. Shareholders intending to attend the AGM via video link need to register in advance by providing necessary personal details to ensure they receive appropriate access to the digital platform.

This AGM is also crucial as it addresses compliance with recent legislative changes under the Companies Act, 2017, such as the mandatory electronic payment of dividends and the conversion of physical shares to book-entry form to facilitate easier management and trading of shares.

Exide Pakistan continues to prioritize compliance with corporate governance standards and regulatory requirements, ensuring that all shareholder communications and transactions are managed effectively and transparently.