Shareholders Approve Key Resolutions at Haseeb Waqas Sugar Mills’ 32nd Annual General Meeting

Lahore, In a significant gathering held on March 8, 2024, at its registered office, Haseeb Waqas Sugar Mills Limited convened its 32nd Annual General Meeting (AGM), where shareholders passed several crucial resolutions impacting the company’s governance and operational frameworks.

The meeting commenced with the confirmation of the minutes from the 31st AGM, held on January 28, 2023, receiving unanimous approval from the shareholders, ensuring continuity and acknowledgment of previous decisions.

Furthermore, the adoption of the annual audited accounts for the fiscal year ending September 30, 2023, was discussed and approved. This included comprehensive reviews of the directors’ and auditors’ reports, emphasizing the company’s financial performance and strategic direction during the past year.

A key resolution was the appointment of new auditors for the upcoming fiscal year. M/s Saeed Ul Hassan & Co., Chartered Accountants, Lahore were appointed to replace the retiring auditors, Qadeer & Company, Chartered Accountants. This change reflects the company’s commitment to maintaining the highest standards of financial integrity and transparency. Additionally, the Chief Executive of Haseeb Waqas Sugar Mills has been authorized to fix the remuneration of the newly appointed auditors.

In alignment with regulatory advancements, the shareholders ratified the Securities and Exchange Commission of Pakistan’s directive (S.R.O No. 389(1)2023 dated March 21, 2023), allowing the transmission of audited annual financial statements through a QR-enabled code and web link. This move towards digital dissemination aims to enhance accessibility and efficiency in communications with the members.

The AGM concluded with a vote of thanks to the chair, marking the end of the meeting with no other business discussed.