Multan: Mahmood Textile Mills Limited, in compliance with an order from the Lahore High Court Multan Bench, held an Extraordinary General Meeting (EOGM) on June 30, 2025, where members approved a significant resolution concerning a Scheme of Arrangement with AG Apparel Limited. This resolution, which became effective immediately, was passed in accordance with Clause 5.6.9 (b) of the Pakistan Stock Exchange Regulations.

The approved resolution pertains to a Scheme of Arrangement involving compromise, arrangement, and reconstruction between Mahmood Textile Mills Limited and its members, along with AG Apparel Limited and its members. The Scheme was considered by the meeting and identified by the chairpersons. It received approval subject to any modifications or conditions that may be imposed by the Lahore High Court, Multan Bench.

According to information available from the Pakistan Stock Exchange (PSX), the resolution further authorized the Chief Executive Officer, any of the Directors, Chief Financial Officer, and Company Secretary of Mahmood Textile Mills to take all necessary steps for the implementation and completion of the Scheme. The parties involved have the authority to act singly or severally to ensure the smooth execution of the approved arrangement.

This development falls under the designated market category, affecting the textile sector, with implications for shareholders and stakeholders engaged with Mahmood Textile Mills Limited and AG Apparel Limited.