Mughal Iron & Steel Industries Limited Announces 14th Annual General Meeting for October 28, 2023

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Lahore, Mughal Iron & Steel Industries Limited has officially notified its shareholders of the upcoming 14th Annual General Meeting (AGM) scheduled for October 28, 2023. The AGM will take place in Lahore, where several crucial matters will be addressed.

The agenda for the meeting includes the following key points:

Audited Financial Statements: Shareholders will receive, consider, and adopt the Audited Financial Statements of the company, along with the Chairman’s Review Report, the Directors’ Report, and the Auditors’ Reports for the fiscal year ending on June 30, 2023.

Dividend Declaration: The Board of Directors has recommended the declaration of a final cash dividend at the rate of 32%, equivalent to Rs. 3.20 per share of Rs. 10 each for the fiscal year ending on June 30, 2023.

Appointment of Auditors: Shareholders will vote on the appointment of auditors and the determination of their remuneration for the fiscal year ending on June 30, 2024. The Board has recommended the re-appointment of M/s. Fazal Mahmood & Company, Chartered Accountants, and M/s. Muniff Ziauddin & Company, Chartered Accountants, the retiring auditors, as joint external auditors.

In compliance with the Companies Act, 2017, a notice has been issued to the members, informing them of the Board’s recommendation regarding the re-appointment of auditors.

It is important to note that the share transfer books of the company will be closed from October 19, 2023, to October 28, 2023, inclusive. Any physical transfers or Central Depository System (CDS) Transaction IDs received by the company’s Karachi office until the close of business on October 18, 2023, will be considered in time for entitlement to the dividend and for participation and voting at the Annual General Meeting.

The 14th Annual General Meeting of Mughal Iron & Steel Industries Limited promises to be a significant event for shareholders and stakeholders, providing an opportunity to review the company’s financial performance and make important decisions for the future.

For further information and updates, shareholders are encouraged to visit the company’s official website and stay tuned for announcements regarding the AGM.

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