Feroze1888 Mills Limited Announces 51st Annual General Meeting to Discuss Key Company Matters

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Karachi, Feroze1888 Mills Limited has officially announced its 51st Annual General Meeting, scheduled to take place on October 27, 2023, in Karachi. The company’s shareholders and stakeholders will gather to discuss and make decisions on crucial matters concerning the company’s operations.

The meeting’s agenda includes several important items:

1. Confirmation of Minutes: Shareholders will begin by confirming the minutes of the Extraordinary General Meeting held on July 20, 2023.

2. Annual Audited Financial Statements: The company will present its Annual Audited Financial Statements for the fiscal year ending on June 30, 2023, along with the Chairman’s Review, Directors’ Report, and the Auditors’ Report for shareholders’ consideration and adoption.

3. Final Cash Dividend: As per the recommendation of the Board of Directors, shareholders will consider and, if deemed appropriate, approve a final cash dividend at the rate of Rs. 8.88 per share (88.8% dividend) to be distributed to all shareholders. This dividend is in addition to the Rs. 2.05 per share (20.5% interim dividend) already declared and paid for the fiscal year ending June 30, 2023.

4. Appointment of Statutory Auditors: The AGM will address the appointment of statutory auditors for the fiscal year ending June 30, 2024, and the fixation of their remuneration. M/s. EY Ford Rhodes, Chartered Accountants, the present auditors, are eligible for re-appointment and have offered themselves for the role.

5. Any Other Business: Additionally, the AGM will provide an opportunity for shareholders to bring up any other matters with the permission of the Chair.

Shareholders are reminded that the Share Transfer Books of the Company will remain closed from October 20, 2023, to October 27, 2023.

The 51st Annual General Meeting promises to be a significant event for Feroze1888 Mills Limited, providing a platform for shareholders to actively participate in the company’s decision-making process and review its financial performance. The outcomes of these discussions will help shape the future direction of the company in the coming year.

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