Islamabad: The Premier Sugar Mills & Distillery Company Limited has announced that its 80th Annual General Meeting (AGM) will be held on January 28, 2026, at 11:30 AM at the company's registered office located on Nowshera Road, Mardan. The agenda for the AGM includes the confirmation of minutes from the previous meeting held on February 26, 2025, the adoption of audited financial statements for the fiscal year ending September 30, 2025, and the appointment of auditors for the upcoming year. The present auditors, M/s. ShineWing Hameed Chaudhri & Co., Chartered Accountants, Lahore, are set to retire but have offered themselves for reappointment.
A key feature of this year's AGM will be the consideration of related party transactions conducted during the financial year that ended on September 30, 2025. The transactions, which were executed in the ordinary course of business, will be ratified, approved, and confirmed by the shareholders. Additionally, the company's Chief Executive Officer and Board of Directors have been authorized to approve future related party transactions, both ordinary and non-ordinary, for the financial year ending September 30, 2026.
According to information available from the Pakistan Stock Exchange (PSX), The Premier Sugar Mills & Distillery Company Limited plans to conduct transactions with related parties, including Chashma Sugar Mills Limited, Premier Board Mills Limited, and others in a fair, transparent, and arm's length manner. The board seeks broad shareholder approval to allow ongoing discretion in approving such transactions, ensuring compliance with Sections 207 and 208 of the Companies Act, 2017, and the company's Related Party Transactions Policy.
The notice for the AGM was published in "The Daily Observer" and "The Daily Assas" newspapers on January 6, 2026, and January 4, 2026, respectively. The company's share transfer books will remain closed from January 18 to January 28, 2026. Members eligible to attend the meeting may appoint proxies, while those wishing to participate via video-link must register by January 26, 2026. The company has also initiated procedures for e-voting and postal balloting, with e-voting available from January 23 to January 26, 2026.
Shareholders are reminded of the statutory code of conduct, which prohibits exerting influence over management decisions and restricts certain activities during the AGM. Additionally, the company will not distribute gifts to shareholders during the meeting, in compliance with Section 185 of the Companies Act, 2017.
The financial details and directors' interests in related party transactions have been disclosed to shareholders as mandated by applicable laws. The transactions are positioned to benefit the company and its stakeholders, ensuring that all dealings are conducted equitably and transparently.