Multan: Allawasaya Textile and Finishing Mills Ltd. has announced that its 67th Annual General Meeting (AGM) is scheduled to take place on October 28, 2024, at Multan. The meeting is set to discuss key corporate affairs, including the adoption of the latest financial statements and auditor appointments.

The agenda for the upcoming AGM, as disclosed, includes confirmation of the minutes from the Extraordinary General Meeting held on May 23, 2024, and adoption of the financial statements for the year ended June 30, 2024. Shareholders will also review the Chairman’s Report, Directors’ Reports, and Auditors’ Reports of the fiscal year.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial performance and strategic decisions will be under scrutiny, particularly in light of the textile industry's current economic pressures. The appointment of auditors is also on the agenda, with M/s Yousuf Adil Chartered Accountants proposed for reappointment for the next financial year, pending shareholder approval.

The company has adhered to regulatory requirements by posting the annual financial statements online, accessible through their corporate website, fulfilling transparency obligations as per Section 223 of the Companies Act, 2017. Furthermore, a Closed Period from October 7, 2024, to October 14, 2024, has been declared during which no director, CEO, or executive is permitted to trade company shares.

Allawasaya Textile’s commitment to corporate governance and compliance with the Pakistan Stock Exchange regulations is evident as they move towards this significant corporate event, which is expected to shape the future course of the company.