Karachi: Gul Ahmed Textile Mills Limited has announced its 72nd Annual General Meeting (AGM) to be conducted on October 26, 2024, at Karachi and via video-link. The meeting will address significant business including the approval of audited financial statements for the fiscal year ended June 30, 2024, and the appointment of new auditors for the upcoming financial year.

The company plans to discuss and approve the audited financial statements for the year, which include the Directors' and Auditors' Reports. Key to the agenda is the appointment of Yousuf Adil, Chartered Accountants, proposed by the board to oversee the next year's financial auditing.

Further, the AGM will entertain special business regarding transactions with related parties. According to information available from the Pakistan Stock Exchange (PSX), shareholders will review transactions noted in the company's annual report and ratify those carried out in the normal course of business during the past year as disclosed in Note No. 40. Additionally, the board seeks authorization to handle related-party transactions in the forthcoming year, ensuring all actions are ratified at the subsequent AGM.

This AGM also allows room for any other business permissible under the chair’s guidance, maintaining compliance with corporate governance standards as outlined in the Companies Act, 2017.