Karachi, Agha Steel Industries Limited, a prominent player in the steel manufacturing sector, has formally announced the convening of its Tenth Annual General Meeting (AGM). The AGM is scheduled for October 16, 2023, and will be conducted both in Karachi and via a Video Conference facility. The meeting will address critical corporate matters and is set to transact the following business:
Ordinary Business:
1. Confirmation of Minutes: The AGM will commence with the confirmation of the minutes of the Extraordinary General Meeting held on June 23, 2023.
2. Financial Statements Adoption: Shareholders will have the opportunity to receive, consider, and adopt the annual audited financial statements of Agha Steel Industries Limited for the fiscal year ending on June 30, 2023. These financial statements will also include the Directors’ and Auditors’ Reports.
3. Auditors Appointment: Shareholders will participate in the appointment of Auditors for the fiscal year ending on June 30, 2024, and the fixation of their remuneration. The Board of Directors has recommended the reappointment of M/s. Reanda Haroon Zakaria & Company Chartered Accountants as the external auditors.
4. Director Elections: The AGM agenda will encompass the election of seven (07) Directors, as determined by the Board in accordance with the provisions of Section 159 of the Companies Act, 2017. These Directors will serve a term of three (03) years, commencing immediately upon the conclusion of the 10th AGM.
Book Closure:
Shareholders and stakeholders are advised that the Share Transfer Books of Agha Steel Industries Limited will be closed from October 09, 2023, to October 16, 2023, inclusive of both days. During this book closure period, no share transfers will be processed.
The Tenth AGM holds significant importance in the company’s calendar, offering a platform for shareholders to actively engage in shaping the future of Agha Steel Industries Limited. The company remains steadfast in its commitment to transparency, adherence to corporate governance standards, and safeguarding shareholders’ interests.
The AGM is expected to attract the attention of shareholders, stakeholders, and industry observers, as it plays a pivotal role in determining the company’s strategic direction and future prospects.
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