Lahore: Shah Taj Textile Limited has passed significant resolutions in its 35th Annual General Meeting on October 24, 2024, including the approval of annual accounts, declaration of a dividend, and the appointment of new external auditors, demonstrating a proactive approach towards financial management and shareholder engagement. The meeting, adhering strictly to the PSX Rule Book, reinforces the company's commitment to compliance and transparency.

The shareholders of Shah Taj Textile have approved the company's audited accounts for the fiscal year ending June 30, 2024. The financial statements, along with the auditors’ report and the directors’ report, were presented and received approval from the members. This step marks a significant acknowledgment of the company's financial health and strategic direction.

In addition, a cash dividend at the rate of 10%, amounting to Re.1 per share, was declared for the shareholders registered by October 18, 2024. The directors have been tasked with making all necessary arrangements to ensure the timely and efficient distribution of this dividend, reflecting the company’s commitment to delivering value to its shareholders.

Furthermore, in a strategic move to enhance its financial oversight, Shah Taj Textile has appointed M/s. Yousuf Adil, Chartered Accountants, as their new external auditors for the fiscal year 2024-2025. The decision, reached after negotiations led by the Chief Executive, aims to maintain robust auditing standards and ensure comprehensive financial scrutiny. According to information available from the Pakistan Stock Exchange (PSX), this appointment aligns with industry practices and regulatory requirements, positioning Shah Taj Textile for sustained compliance and transparency in its financial operations.

These resolutions affirm Shah Taj Textile Limited's dedication to robust governance and financial stability, pivotal for maintaining investor confidence and ensuring compliance with regulatory standards.