Lahore: Shareholders of The Premier Sugar Mills & Distillery Co. Ltd convened for their 80th annual general meeting on January 28, 2026, passing significant resolutions that underscore the company’s financial strategy and governance framework.
The meeting, which saw active participation from the majority of the shareholders, began with the approval of the annual audited financial statements for the fiscal year ending September 30, 2025. These statements included all transactions with related parties, alongside the accompanying reports from auditors and directors. The move was formalized through an ordinary resolution, signifying shareholder confidence in the company’s financial transparency and performance.
Further strengthening its financial oversight, the shareholders appointed M/s. ShineWing Hameed Chaudhri & Co, a firm of chartered accountants based in Lahore, as the external auditors for the upcoming fiscal year ending September 30, 2026. Additionally, M/s Zahid Jamil & Co, Chartered Accountants, were named as the cost accountants for the same period.
A special resolution was also passed, ratifying and approving the transactions conducted with related parties during the last financial year. The resolution authorizes the Chief Executive Officer or any director to approve ongoing and future transactions in the ordinary course of business with related parties, in line with Section 208 of the Companies Act, 2017.
The company further received authorization to engage in related party transactions beyond the ordinary course of business, including dealings involving the sale and purchase of stores, spares, raw materials, and finished goods. These transactions will adhere to the company’s Related Party Transaction Policy and Sections 207 and 208 of the Companies Act, 2017.
According to information available from the Pakistan Stock Exchange (PSX), these developments reflect a strategic alignment with regulatory compliance and operational flexibility, allowing the company to adapt to market dynamics efficiently.
The resolutions empower the company’s leadership to take all necessary actions to execute these transactions, with periodic updates to be presented to shareholders for ratification in subsequent meetings.