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Karachi, Waves Home Appliances Limited has announced that its Annual General Meeting (AGM) of shareholders will take place on May 29, 2023. The meeting will be held in Lahore, with shareholders being able to participate either physically or electronically.
The ordinary businesses to be transacted include the adoption of audited financial statements for the year ended December 31, 2022, along with the Chairman’s Review and Directors’ Report. The appointment of Statutory Auditors of the Company for the year ending December 31, 2023, and fixing their remuneration will also be considered. M/s RSM Avais Hyder Liaqat Nauman, Chartered Accountants, the retiring auditors, have been recommended for reappointment by the Board and Audit Committee.
The meeting will also consider special businesses, including the approval of the company to circulate the annual audited financial statements to shareholders through QR enabled code and weblink instead of through CD/DVD/USB. The transactions carried out by the company with Waves Corporation Limited, Waves Marketplace Limited, and Employees’ Pension/Gratuity/Provident Fund during the financial year ended December 31, 2022, as given in the related party note of the Annual Audited Financial Statements of the Company, will also be approved.
The Board of Directors of the Company will be authorized to approve all related party transactions to be carried out on a case-to-case basis during the financial year ending December 31, 2023. These transactions will be deemed to be approved by the shareholders and will be placed before the shareholders in the next AGM for their formal ratification/approval.
The share transfer Books of the Company will remain closed from May 19, 2023, to May 29, 2023, both days inclusive. Shareholders have also been requested to notify the Company’s Share Registrar if there is any change in their registered postal addresses.