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Karachi: Sana Industries Limited has announced that its 290th Board of Directors meeting will take place on September 30, 2024, where a series of significant decisions will be discussed, including the approval of financial accounts and the distribution of dividends.
According to information available from the Pakistan Stock Exchange (PSX), the meeting’s agenda will cover the confirmation of the minutes from the 289th meeting held on April 29, 2024. Top of the agenda will be the review and approval of the un-consolidated and consolidated audited accounts for the fiscal year ended June 30, 2024, along with the Auditors’ and Directors’ reports.
In terms of shareholder value, the Board will consider the approval of both cash and stock dividends for the year. Additionally, there will be discussions on increasing the remuneration of the Chief Executive and other full-time working directors of the company. Furthermore, the board will review transactions made by directors, the CEO, executives, their spouses, and substantial shareholders during the past year.
The meeting will also see the ratification of transactions with related parties for the fiscal year that ended on June 30, 2024, and the authorization of similar transactions for the upcoming fiscal year ending June 30, 2025. Another critical point on the agenda is the consideration of the reappointment of the company’s auditors, M/s. Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants, who are offering themselves for re-election.
The Board is also tasked with finalizing the arrangements for the 39th Annual General Meeting of the shareholders, along with any other matters that may arise with the permission of the Chair.
It is noteworthy that a “closed period” has been set from September 23 to September 30, 2024, during which directors, the CEO, and executives are prohibited from dealing in the company’s shares, in adherence to the SECP’s Code of Corporate Governance.
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