16th Annual General Meeting of Walton Hi-Tech Industries PLC. held

The 16th Annual General Meeting of Walton Hi-Tech Industries PLC. was held on Wednesday, 28th September 2022 at 12.00 PM through Digital Platform.

The Company's Vice Chairman Mr. S M Shamsul Alam presided over the meeting. Among others, the Managing Director & CEO Mr. Golam Murshed, Directors Mr. S M Ashraful Alam, Mr. S M Mahbubul Alam, Mr. S M Rezaul Alam, Mr. S M Monjurul Alam Ovee, Mrs. Tahmina Afrose Tanna, Mrs. Raisa Sigma Hima, and Independent Directors Dr. Ahsan H. Mansur, Mr. Samsul Alam Mallick, FCA, Professor Dr. M. Sadiqul Islam, PhD, FCA and Professor Dr. Zakir Hossain Bhuiyan, PhD were present.

Among others, the Additional Managing Director Mr. Abul Bashar Howlader, Deputy Managing Directors Mr. Nazrul Islam Sarker, Mr. Amdadul Haque Sarker, Mrs. Eva Rezwana Nilu, Mr. Humayun Kabir and Mr. Alamgir Alam Sarker, Company Secretary, Mr. Md. Rafiqul Islam, FCS, Chief Financial Officer Mr. Muhammed Omar Faruque Ripon, FCA, Head of Internal Audit and Compliance, Mr. Mohammad Sirajul Islam, 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.

Addressing the meeting, the Chairman of the meeting expressed his sincere gratitude to all concerned for making the Annual General Meeting a success by attending the event.

At the meeting, the Managing Director & CEO presented the Company’s financial performance to the shareholders for the Financial Year 2021-2022, and delivered various comments on the company’s ‘Go Global’ initiatives.

In the Meeting, the shareholders of Walton Hi-Tech Industries PLC. approved the Company’s Audited Financial Statements for the Financial Year 2021-2022. The shareholders also approved 250 percent cash dividend for the general shareholders and 150 percent cash dividend for sponsors and directors for the Financial Year 2021-2022.

They also approved the recommendation of the Board on elect/re-elect of the Directors and re-appointment of the Independent Directors, the appointments of Statutory Auditors and Corporate Governance Compliance Auditor for the Financial Year 2022-2023 and fixed their remuneration.

Under the special agenda, as per the notification of Bangladesh Securities and Exchange Commission, related party transactions between Walton Hi-Tech Industries PLC. and Walton Plaza for selling of 10 percent or above of the total revenue or turnover for the Financial Year 2021-2022 was also been approved by the general shareholders.

It is to be mentioned here that, the Company’s Basic Earnings Per Share (BEPS) was Tk. 40.16 for the Financial Year 2021-2022 compared to the Tk. 54.21 for the Financial Year 2020-2021. Net Asset Value Per Share (NAVPS) with Revaluation stood at Tk. 334.68 and Tk. 231.34 without Revaluation for the Financial Year 2021-2022 compared to the Net Asset Value Per Share (NAVPS) with Revaluation Tk. 311.59 and Tk. 208.16 without Revaluation for the Financial Year 2020-2021.