MetaTech Trading : Transmission of Annual Report for the Year Ended June 30, 2023

Annual Report

2023

MetaTech Trading Limited

CONTENT

1. Vision and Mission Statement
2. Corporate Information
3. Code of Corporate Governance
4. Pattern of Shareholding
5. Chairman Review Report
6. Director's Report
7. Notice of 62th Annual General Meeting
8. Statement of Compliance
9. Auditor's Report to the Members
10. Statement of Financial Position
11. Statement of Profit and Loss
12. Statement of Cash Flows
13. Statement of Comprehensive Income
14. Statement of Change in Equity
15. Notes to the Financial Statements
16. Proxy Form

	Annual Report for the Year Ended June 30, 2023	1

MetaTech Trading Limited

Vision Statement

We are committed to thrive towards profitable customer-driven and socially responsible organization. We aim to become the leaders of our industry and set benchmark for others.

Mission Statement

We strive to be the best marketer/trader and want to serve as an industry standard. We empower our employees for continuous growth and enable them to ensure success for our stakeholders.

We will fairly compete in quality, technology, operational expertise, while ensuring sound financial and sustainable growth of the Company for the sake of its stakeholders and reputation.

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MetaTech Trading Limited

Company Information

Board of Directors
1.	Dr. Zahid Mahmood	Chairman
2.	Mr. Mansoor Ahmed Soomro	Chief Executive Officer
3.	Ms. Maaria Ahmad	Non-Executive Director
4.	Hafiz Muddassir Alam	Non-Executive Director
5.	Ms. Farzin Khan	Independent Director
6.	Mr. Muhammad Iqbal	Independent Director
7.	Mr. Usman Ali Shah	Independent Director
Audit Committee
1.	Ms. Farzin Khan	Chairman
2.	Mr. Mansoor Ahmed Soomro	Member
3.	Ms. Maaria Ahmad	Member
4.	Mr. Muhammad Usman	Secretary
Human Resource and Remuneration Committee
1.	Mr. Muhammad Iqbal	Chairman
2.	Hafiz Muddasir Alm	Member
3.	Mr. Usman Ali Shah	Member
4.	Mr. Muhammad Usman	Secretary
Company Secretary & CFO	Mr. Muhammad Usman
Auditors	Kreston Hyder Bhimji & Co. Chartered Accountant
Legal Advisor	Azzizuddin & Shahid Law Associates
Registrar	Digital Custodian Company Limited
		508, LSE Plaza, Kashmir Egerton Road, Lahore
Registered Office	Office # 505, 5TH Floor, LSE Building, Aiwan-e-
		Iqbal, Lahore.

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MetaTech Trading Limited

Code of Corporate Governance

The requirements of the Code of Corporate Governance, as introduced by the Securities and Exchange Commission of Pakistan (and set out by the Pakistan Stock Exchange Limited in its Listing Rules), have been duly complied with. A statement to this effect is annexed with the report.

Compliance with Code of Corporate Governance

In compliance with the Code, the Board of Directors of your Company states that:

• The financial statements, prepared by the management of your company, fairly present its state of affairs, the result of its operations, cash flows and changes in equity.
• Proper books of account have been maintained by your company.
• Appropriate accounting policies are consistently applied by your Company in the preparation of financial statements, and accounting estimates are based on reasonable and prudent judgment.
• International Accounting Standards, as applicable in Pakistan, have been followed in the preparation of these financial statements and any departure there from, if any, has been adequately disclosed.
• The system of Internal Control, being implemented in your Company is sound and has been effectively persisted throughout the year.
• Keeping in view the financial position of your Company, we do not have any significant doubt upon its continuance as a going concern.
• There also has not been any material departure from the best practices of corporate governance, as detailed in the listing regulations, during the year under review.

Audit Committee

The Board of Directors of the Company has established an Audit Committee comprising of three members, in compliance with the Revised Code of Corporate Governance 2017 (CCG). Whom three are Non-Executive Directors including Chairman of the Committee. During the year June 30, 2023, the Committee met four times. The Meetings of the Audit Committee were held at least once every quarter prior approval of the interim and final results of the Company as required by CCG. The attendance of the Board Members was as follows:

Audit Committee	30-Aug-22	5-Oct-22	22-Feb-23	26-Apr-23	Attendance
Farzin Khan	P	P	P	P	4/4
Mansoor Ahmed Soomro	P	P	P	P	4/4
Maaria Ahmad	P	P	P	P	4/4
Total	2/4	2/4	2/4	2/4
P = Present
A = Absent

Leave of absence was granted to M/s Farzin Khan due to her preoccupations. Chief Financial Officer, Secretary of Audit Committee (Head of Internal Audit) were also attended all meetings during the year under review. The Committee also met the External Auditors separately in the

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