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Karachi: Shareholders of Hascol Petroleum Limited confirmed several key resolutions during the company’s 22nd Annual General Meeting (AGM), which took place on July 24, 2024, at the ICAP Auditorium in Karachi and via video link. The meeting focused on adopting the past year’s financial statements and appointing external auditors for the upcoming fiscal year.
The company successfully ratified the minutes from its Extraordinary General Meeting held on September 8, 2023. In a significant move, shareholders approved and adopted the Annual Audited Financial Statements for the year that concluded on December 31, 2023. The reports from the company’s directors and auditors, alongside the Review Report of the Chairman, received unanimous support.
According to information available from the Pakistan Stock Exchange (PSX), the assembly also agreed to appoint M/s. Baker Tilly Mehmood Idrees Qamar, Chartered Accountants, as the external auditors for Hascol Petroleum. They will hold this position until the conclusion of the next AGM, slated for after the end of the financial year on December 31, 2024. Additionally, the shareholders empowered the Chief Executive Officer of Hascol Petroleum to determine the remuneration for the newly appointed auditors.
This series of resolutions underscores the company’s commitment to regulatory compliance and transparency, adhering closely to the stipulations set by the Pakistan Stock Exchange’s Rule Book under Rule 5.6.9 (b).