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Karachi, The Hub Power Company Limited has formally announced its 32nd Annual General Meeting (AGM), scheduled for October 16, 2023, in Karachi. The AGM will address critical business matters for the company, including the adoption of financial statements, dividend declaration, and the appointment of auditors.
Ordinary Business:
1. Adoption of Financial Statements: The first order of business is to receive and adopt the Annual Audited Financial Statements of the company for the fiscal year ending on June 30, 2023. These statements will be presented alongside the Directors’ and Auditor’s Reports.
2. Dividend Declaration: The second agenda item involves the approval and declaration of a final dividend of PKR 6.00 (60%) per share. This dividend has been recommended by the Board of Directors for the fiscal year ending on June 30, 2023.
3. Appointment of Auditors: The third item on the agenda pertains to the appointment of A.F. Ferguson & Co., Chartered Accountants, as the Auditors of the company. The remuneration for the auditors for the fiscal year ending on June 30, 2024, will also be determined.
Note:
As part of the announcement, the company has informed shareholders that the Share Transfer Books will remain closed from October 10, 2023, to October 16, 2023, inclusive of both dates. The final dividend will be paid to shareholders whose names appear in the Register of Members on October 9, 2023.
The 32nd AGM of The Hub Power Company Limited is expected to be a significant event for the company and its shareholders, as it provides an opportunity to engage in the decision-making process regarding important financial matters and the declaration of dividends. Participation in the AGM is encouraged to ensure transparency and accountability within the company.
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