Premier Sugar Mills and Distillery Co. Ltd. Announces AGM and Auditors Nomination

Karachi, The Premier Sugar Mills and Distillery Company Limited has formally announced its 78th Annual General Meeting (AGM) of shareholders, scheduled for February 26, 2024, at 11:30 AM at its Registered Office in Nowshera Road, Mardan. This key gathering, also accessible via video link, aims to engage shareholders in pivotal corporate decisions, including the adoption of audited financial statements for the year ended September 30, 2023, and the reappointment of auditors.

In a move to ensure seamless shareholder participation, the company has outlined comprehensive arrangements for both physical and virtual attendance in compliance with the Securities and Exchange Commission of Pakistan’s requirements. This approach underscores the company’s commitment to inclusivity and adaptability in corporate governance.

The Board of Directors has recommended M/s. ShineWing Hameed Chaudhri and Co., Chartered Accountants, for reappointment as the company’s auditors, reflecting a continued trust in their services. This nomination will be subject to shareholder approval during the AGM, along with the fixation of their remuneration for the forthcoming financial year.

Additionally, the AGM will contemplate a special resolution to increase the remuneration of an executive director, a testament to the board’s recognition of the director’s contributions and the company’s growth.

Shareholders have been urged to register their email addresses for electronic receipt of financial statements and AGM notices, a green initiative aimed at enhancing convenience and reducing paper use. Moreover, the company has reiterated the legal requirement for shareholders to convert physical shares into book-entry form, aligning with the Securities and Exchange Commission of Pakistan’s directives to facilitate safer and more efficient share trading.

This AGM represents an essential forum for shareholder engagement, deliberation on the company’s performance, and strategic decision-making, ensuring that Premier Sugar Mills and Distillery Co. Ltd. continues to operate transparently and in the best interests of its stakeholders.