Faisalabad: J.K. Spinning Mills Ltd. has formally adopted a series of resolutions during its annual general meeting held on October 24, 2025, at its premises on Sheikhpura Road, Khurrianwala, Faisalabad.
The shareholders of J.K. Spinning Mills Ltd. approved the audited financial statements for the fiscal year ending June 30, 2025. These financial documents, which include the Chairman's, Directors', and Auditors' reports, were presented and received unanimous adoption by the attendees.
In another resolution, M/S Riaz Ahmad and Company, Chartered Accountants, were appointed as the external auditors for the 2025-26 fiscal year. The Chief Executive Officer has been granted the authority to finalize the terms and conditions of this appointment, ensuring the company's compliance with auditing standards.
Additionally, the meeting resulted in the declaration of a final cash dividend of Rs.2 per share, equivalent to 20%, for ordinary shareholders, excluding Directors, CEO, their spouses, and close relatives. This action is intended to reward shareholders for their investment and confidence in the company's performance over the past year.
The company also ratified transactions with related parties as disclosed in Note 42 of the financial statements for the year ended June 30, 2025. This approval aligns with Section 134 (3) of the Statement of Material Information, ensuring transparency and accountability in dealings with related entities.
Furthermore, the Board of Directors received authorization to approve future related-party transactions on a case-by-case basis for the financial year ending June 30, 2026. These transactions will be presented to the shareholders at the next annual general meeting for formal ratification.
According to information available from the Pakistan Stock Exchange (PSX), J.K. Spinning Mills Ltd. continues to be a significant entity within its designated market category, maintaining robust operational and financial practices as demonstrated by the resolutions adopted in the recent meeting.