Karachi: Bhanero Textile Mills Limited has scheduled its 45th Annual General Meeting (AGM) for October 28, 2024, to be held at Karachi. The meeting is poised to cover a series of significant agenda items, including the reappointment of auditors and the approval of audited financial statements for the fiscal year ended June 30, 2024.

The AGM will commence with the confirmation of minutes from the previous meeting held on October 27, 2023. Subsequently, shareholders will review and adopt the audited financial statements alongside the directors' and auditors' reports. According to information available from the Pakistan Stock Exchange (PSX), the meeting will also address the appointment of auditors for the next fiscal year with the proposed remuneration set at 2.275 million PKR, retaining the services of the retiring auditors, Mushtaq and Company.

A key point of special business will be the approval of related party transactions conducted over the past year as disclosed in the annual financial statements. This will include a forward-looking resolution authorizing the board to handle such transactions on a case-by-case basis throughout the fiscal year ending June 30, 2025.

The company has made provisions for shareholders to participate in the AGM electronically via Zoom, reflecting ongoing adaptations to modern governance practices. The meeting details, including electronic attendance options, have been made available on the company's website and dispatched to shareholders by post.

This AGM represents a crucial gathering for Bhanero Textile Mills' stakeholders to deliberate on the company’s performance, strategic direction, and governance matters. The outcomes of these discussions are expected to shape the company's approach in the coming year amidst evolving market conditions.