Ismail Industries Limited Announces 35th Annual General Meeting Date and Agenda

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Karachi, Ismail Industries Limited has officially declared that its 35th Annual General Meeting (AGM) is scheduled to take place in Karachi on October 23, 2023. The AGM will serve as a platform to conduct several important matters of business, including the following:

Ordinary Business:

1. Confirmation of Minutes: The meeting will commence with the confirmation of the minutes of the 34th Annual General Meeting, which took place on October 26, 2022.

2. Financial Statements Approval: Shareholders will receive, consider, approve, and adopt the standalone and consolidated Audited Financial Statements of the Company for the fiscal year ending June 30, 2023. These statements will be presented along with the Chairman’s Review Report, Directors’ Report, and Auditors’ Reports.

3. Dividend Declaration: The declaration and approval of the final cash dividend for the year ended June 30, 2023, will be on the agenda. The Board of Directors has recommended a final cash dividend of 20% (Rs. 2 per share) for the ordinary shares of the Company. This is in addition to the interim cash dividend of 100% (Rs. 10 per share) previously paid.

4. Auditor Appointment: Shareholders will also be asked to appoint Auditors for the fiscal year ending June 30, 2024, and determine their remuneration. The Board Audit Committee and the Board of Directors have recommended the reappointment of retiring auditors M/s. Grant Thornton Anjum Rahman, Chartered Accountants, as Auditors of the Company.

Important Note:

The Company has also announced the closure of the Shares Transfer Book, which will be effective from October 17, 2023, to October 23, 2023, inclusive. This closure period is vital for administrative purposes and ensures the accurate recording of shareholders and their respective entitlements.

Ismail Industries Limited encourages all shareholders to participate in the 35th Annual General Meeting and have their voices heard regarding the Company’s financial performance and important decisions. The meeting will play a pivotal role in shaping the future trajectory of Ismail Industries Limited, and the company remains dedicated to transparency and compliance in all its operations.

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