Karachi: Bhanero Textile Mills Limited has scheduled its 46th Annual General Meeting for October 27, 2025, to be held at the company’s registered office in Karachi. Shareholders are set to converge at Umer House, located in the Korangi Industrial Area, at 3:00 pm to discuss both ordinary and special business matters.
The agenda for the meeting includes the confirmation of the minutes from the previous annual meeting held on October 28, 2024. The company will also present its audited financial statements for the fiscal year ending June 30, 2025, along with accompanying auditors’ and directors’ reports. The designated market category will be highlighted during these proceedings.
A notable item on the agenda is the appointment of auditors for the fiscal year 2025-2026. Messer’s Mushtaq and Company, Chartered Accountants, the retiring auditors, have offered themselves for reappointment with a proposed remuneration set at PKR 2,600,000, up from PKR 2,275,000 in the previous year.
Special business will focus on related party transactions, requiring a special resolution for ratification. The board of directors seeks shareholder approval for transactions conducted with related parties during the fiscal year ending June 30, 2025. Furthermore, the board requests authorization to approve future transactions with related parties on a case-by-case basis for the period ending June 30, 2026. According to information available from the Pakistan Stock Exchange (PSX), these resolutions are essential for maintaining compliance with statutory requirements.
Shareholders are invited to attend the meeting via video link through the “Zoom” application, ensuring broader participation. The company has also facilitated the submission of proxy forms via email, with a deadline set 48 hours before the meeting.
In compliance with regulatory provisions, the company is transitioning to book-entry form for shares, urging shareholders to convert physical shares to maintain compliance. The company has highlighted the advantages of book-entry shares, including secure and instant trading capabilities.
The meeting will also address the voting process for special business items, which will be conducted exclusively through postal ballots and electronic voting, as per SECP directives. Voting will open on October 24, 2025, and close on October 26, 2025.
The annual report and notice of the meeting have been disseminated to shareholders via postal and electronic means, ensuring transparency and accessibility in line with regulatory requirements.