Karachi: Ahmad Hassan Textile Mills Limited has disclosed the resolutions passed during its 34th Annual General Meeting held on October 28, 2023, in Multan.

The company confirmed the minutes of the previous Annual General Meeting held on October 28, 2022. The resolution stated, "RESOLVED THAT the minutes of Annual General Meeting held on 28th October, 2022 be and are hereby approved."

The audited accounts along with the Directors' and Auditors' Reports for the financial year ended June 30, 2023, were presented, considered, and subsequently adopted. The resolution for this matter expressed, "RESOLVED THAT the Audited Accounts together with Directors' and Auditors' Report for the year ended June 30, 2023 be and are hereby approved and adopted."

In regards to the appointment of Auditors for the financial year 2023-2024, the company resolved to reappoint Messrs. Yousuf Adil, Chartered Accountants. They are to serve until the conclusion of the next Annual General Meeting at an aggregate remuneration of Rs. 650,000. The resolution detailed, "RESOLVED THAT the appointment of Messrs. Yousuf Adil, Chartered Accountants, as Auditors of Ahmad Hassan Textile Mills Limited, for the year ending June 30, 2024, at an aggregate remuneration of Rs. 650,000 be and is hereby approved."

The shareholders approved a final cash dividend for the financial year ended June 30, 2023, at a rate of Rs. 0.75 per share, which is equivalent to 7.50%. This dividend is applicable to shareholders whose names appeared in the Register of Members as of October 20, 2023. The resolution read, "RESOLVED THAT a final cash dividend at Rs.0.75/- per share i.e.7.50% be and is hereby approved for payment to the entitled shareholders of Ahmad Hassan Textile Mills Limited whose names appeared in the Register of Members, as on October 20, 2023."

Finally, the company elected seven Directors for a term of three years in accordance with Section 159 of the Companies Act 2017. The retiring Directors were Mian Muhammad Javed, Mrs. Salma Javed, Mr. Muhammad Haris, Mrs. Bushra Ali, Mr. Haseeb Haris Mughal, Mr. Ali Kamal, and Mr. Nazir Ahmad Khan. The resolution stated, "RESOLVED THAT since the number of persons who have offered themselves to be elected is not more that the number of Directors fixed under section 159(1) of the Companies Act, 2017, the following named seven (7) candidates shall be deemed to have elected as Directors of the Company for the next term of three years commencing from October 28,2023."