Lahore: Fazal Cloth Mills Limited has scheduled its 61st Annual General Meeting (AGM) for October 28, 2026, at 11:30 a.m., to be held both in person at E-110, Khyaban-e-Jinnah Defence Mor Lahore, and via video conferencing. This meeting will address several key business items, as detailed in the notice of AGM released by the company.

The agenda includes confirming the minutes from the Extraordinary General Meeting on June 2, 2026, and reviewing the company's Annual Audited Financial Statements for the fiscal year ending June 30, 2026. Shareholders will consider approving a final cash dividend of 150%, which equates to Rs. 15 per ordinary share of Rs. 10 each, as recommended by the Board of Directors.

Additionally, the meeting will involve appointing auditors for the upcoming fiscal year, ending June 30, 2027. The current auditors, M/s. Shine Wing Hameed Chaudhri & Co., Chartered Accountants, have retired but are eligible for reappointment. The Board of Directors, based on the Board Audit Committee's recommendation, has endorsed the reappointment of M/s. Shine Wing Hameed Chaudhri & Co. as auditors.

In the realm of special business, shareholders will be asked to ratify transactions conducted with related parties during the fiscal year ending June 30, 2026, under a special resolution authorized in the previous AGM on October 25, 2025. Additionally, the Chief Executive will be authorized to approve all related party transactions for the fiscal year ending June 30, 2027, up until the next AGM.

According to information available from the Pakistan Stock Exchange (PSX), Fazal Cloth Mills Limited is a key player in the designated market category, and these proceedings are closely watched by industry stakeholders.

Finally, the agenda allows for the transaction of any other ordinary business that may legally be conducted at the AGM, with the permission of the Chair. The notice underscores the importance of these discussions for the strategic direction of Fazal Cloth Mills Limited.