Lahore: Kohinoor Spinning Mills Limited held its Annual General Meeting (AGM) on October 28, 2024, during which shareholders passed several key resolutions related to the company’s financial operations, corporate governance, and future business plans.

According to information available from the Pakistan Stock Exchange (PSX), the shareholders approved the audited accounts of Kohinoor Spinning Mills for the year ended June 30, 2024, alongside the directors’ and auditors’ reports. M/s. Saeed Ul Hassan and Co., Chartered Accountants, were appointed as the statutory auditors for the upcoming fiscal year ending June 30, 2025, with terms and conditions to be approved by the Chief Executive.

In a special resolution, the members authorized the company to lease its land, building, and plant machinery of Unit-3 under Section 183(3)(a) of the Companies Act, 2017. The Chief Executive and CFO were empowered to negotiate and finalize the terms and conditions of this agreement, as well as to fulfill all regulatory requirements and obtain the necessary approvals.

Another resolution passed at the AGM approved the circulation of the company’s Annual Report through a QR code and weblink, in compliance with SECP Notification S.R.O. 389(I)/2023, dated March 21, 2023. The Chief Executive Officer and CFO were granted the authority to implement this decision and carry out the necessary administrative tasks.

These resolutions ensure Kohinoor Spinning Mills Limited continues to comply with corporate governance practices and regulatory requirements while advancing its business objectives.