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Khyber Pakhtunkhwa: Lucky Cement Limited has announced it will hold its 31st Annual General Meeting (AGM) on September 26, 2024, where shareholders will vote on key financial and governance matters including the approval of a substantial final cash dividend and the election of seven board directors.
At the AGM, shareholders are set to receive, consider, and adopt the audited financial statements for the year ended June 30, 2024, alongside the Board of Directors’ and Independent Auditors’ reports. According to information available from the Pakistan Stock Exchange (PSX), these documents have been made accessible on the company’s website, ensuring transparency and compliance with Section 223 of the Companies Act, 2017.
A notable agenda item includes the proposal of a final cash dividend at 150%, equating to PKR 15 per ordinary share, as recommended by the Board of Directors. This decision underscores the company’s robust financial performance and commitment to returning value to its shareholders.
Furthermore, the AGM will address the re-appointment of the company’s current auditors, M/s. A.F. Ferguson and Co., Chartered Accountants, who, having consented to continue in their role, have been endorsed by the board for another term ending June 30, 2025.
The election of seven directors for a three-year term will also be a focal point. The candidates, including notable incumbents such as Mr. Muhammad Sohail Tabba and Ms. Mariam Tabba Khan, are poised for re-election, reflecting continuity and stability within the company’s leadership.
Special business will involve the ratification and approval of related party transactions conducted during the fiscal year as well as authorization for future transactions, ensuring compliance with corporate governance norms. This includes a wide range of activities from the sale of goods to share subscriptions, all under the oversight of the Board Audit Committee.
The AGM represents a critical platform for stakeholder engagement and decision-making, shaping the strategic direction of Lucky Cement for the coming years.
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