Standard Chartered Bank (Pakistan) Announces 18th Annual General Meeting

Karachi, Standard Chartered Bank (Pakistan) Limited has scheduled its 18th Annual General Meeting (AGM) for Thursday, 28 March 2024. The meeting is set to take place at 03:00 p.m. at the Institute of Chartered Accountants of Pakistan (ICAP), Chartered Accountants Avenue, Clifton, Karachi with an additional option for shareholders to participate through video conferencing.

The agenda for the AGM includes the adoption of audited accounts for the year ended 31 December 2023, along with the Directors’ and Auditors’ Reports. The bank proposes the reappointment of M/s EY Ford Rhodes, Chartered Accountants, as Statutory Auditors for the year 2024. The meeting will also consider the approval of a final cash dividend of 25% (Rs. 2.5 per share of Rs. 10/- each) for the year ended 31 December 2023, supplementing the cumulative interim cash dividend of 65% already distributed for the year.

In special business, shareholders will review the transmission of Annual Audited Accounts and related documents via QR Code and Weblink, in compliance with the Securities and Exchange Commission of Pakistan’s regulations. Additionally, the revised Directors’ Remuneration Policy, as approved by the Board of Directors, will be subject to post facto approval.

The notice of the AGM, including details on ordinary, special, and other business items to be discussed, will be published in the “Business Recorder” and “Express Urdu” newspapers on Thursday, 7 March 2024. Shareholders are advised to refer to these publications for further details and are encouraged to participate in the upcoming meeting.