Karachi: Sunrays Textile Mills Limited has announced the scheduling of its 34th Annual General Meeting (AGM) set to take place on October 28, 2025, at 2:00 P.M. The meeting will be held at the premises of Indus Dyeing & Manufacturing Company Limited, located in the Korangi Industrial Area of Karachi. This forthcoming AGM will cover both ordinary and special business items, including the approval of financial statements and related party transactions.
The ordinary business on the agenda includes the confirmation of the minutes from the previous AGM held on October 28, 2024. Shareholders will also review and approve the audited consolidated and unconsolidated financial statements for the fiscal year ending June 30, 2025. These financial documents will be accompanied by the reports from the directors, auditors, and the Chairman.
According to information available from the Pakistan Stock Exchange (PSX), the AGM will also see the appointment of statutory auditors for the next fiscal year. The Board of Directors has recommended the reappointment of Messers Yousuf Adil, Chartered Accountants, as the statutory auditors, following the recommendation of the Audit Committee.
In the realm of special business, the meeting will consider the ratification of transactions with related parties as disclosed in the company’s financial statements for the year ended June 30, 2025. Shareholders will also vote on granting the board the authorization to engage in related party transactions for the fiscal year 2025-2026, with all such activities being disclosed in the subsequent AGM.
Notably, the share transfer books of Sunrays Textile Mills will be closed from October 22 to October 28, 2025. Transfers received by the close of business on October 21, 2025, will be eligible for participation and voting at the meeting. The company has made its annual report accessible via its website and has circulated the notice of the AGM along with a QR-enabled code for ease of access.
In compliance with Section 242 of the Companies Act, 2017, dividends will be disbursed electronically, and shareholders are urged to furnish their International Bank Account Numbers (IBAN) to facilitate this process. Furthermore, shareholders who wish to participate via video link are requested to register with the company’s secretary’s office at least two working days before the meeting.
The company emphasizes the importance of shareholders ensuring their details, including electronic communication preferences and tax status, are updated. This is crucial to benefit from reduced tax rates on dividends and to receive communications efficiently. Additionally, shareholders with unclaimed dividends or bonus shares are advised to contact the company’s share registrar.
Sunrays Textile Mills Limited is committed to maintaining transparency in its transactions and ensuring shareholder engagement and compliance with regulatory requirements. The company will continue to disclose all related party transactions in its annual report and present them for ratification in future general meetings.