Walton Hi-Tech holds 17th AGM

The 17th Annual General Meeting (AGM) of Walton Hi-Tech Industries PLC, country's leading electrical and electronics manufacturing company listed in capital market, was concluded successfully.

Walton has held its 17th AGM virtually over a digital platform on Sunday (October 29, 2023), with an aim to ensure continuous and meaningful shareholders' engagement and participation.

Walton Hi-Tech Industries' Chairman S M Shamsul Alam presided over the AGM while Company's Vice-Chairman S M Ashraful Alam, Managing Director S M Mahbubul Alam, Directors S M Nurul Alam Rezvi, S M Rezaul Alam, Tahmina Afrose Tanna and Raisa Sigma Hima, Independent Directors Dr. Ahsan H. Mansur, Samsul Alam Mallick, FCA, and Professor Dr. M. Sadiqul Islam, PhD, FCA were also present.

Among others, Company's Additional Managing Directors (AMDs) Major General Ibne Fazal Shayekhuzzaman (Retd.), S M Shoyeb Hossain Nobel and Amdadul Hoque Sarker, Deputy Managing Directors Nazrul Islam Sarker, Eva Rezwana Nilu, Humayun Kabir and Md. Yousuf Ali, Company Secretary Md. Rafiqul Islam, FCS, Chief Financial Officer Muhammed Omar Faruque Ripon, FCA, Head of Internal Audit and Compliance Rahamat Ara Huda, FCA and a good number of institutional investors as well as general shareholders, Company’s Statutory Auditors and Corporate Governance Compliance Auditor, representatives from regulators, other stakeholders including higher officials of the Company also attended the meeting virtually.

During the AGM, the shareholders and board of the company approved the company’s audited financial statements for the financial year 2022-2023, the reports of the directors and the auditors, and the recommended 300 percent cash dividend for the general shareholders and 90 percent cash dividend for sponsors and directors for the FY 2022-2023.

The shareholders also approved the recommendation of the board on elect/re-elect of the directors and re-appointment of an independent director for another tenure of 3 years.

The meeting also approved the appointments of Messer's Howladar Yunus & Co, Chartered Accountants as the Statutory Auditors and Messer's Al-Muqtadir Associates as Corporate Governance Compliance Auditor for the FY 2023-2024 and fixed their remuneration.

Addressing the AGM, the Chairman of the meeting expressed his sincere gratitude to all concerned for making the AGM successful by attending the event.