Lahore: Prosperity Weaving Mills Limited has notified its shareholders and stakeholders of the upcoming 35th Annual General Meeting (AGM) scheduled for October 28, 2026. The meeting will commence at 11:00 a.m. at the company's registered office at Nagina House, 91-B-1, M.M. Alam Road, Gulberg-III, Lahore-54660, and will also be accessible virtually through a video conference facility.
The agenda for the meeting includes several key items of ordinary and special business. Shareholders will be asked to read and confirm the minutes of the Extraordinary General Meeting held earlier this year on January 26, 2026. A significant focus will be on the financial performance of the company, as members are set to receive, consider, and adopt the audited financial statements for the year ending June 30, 2026. These documents will be accompanied by the Chairman's Review Report, Directors', and Auditors' reports.
Another major point of discussion will be the consideration and approval of a final cash dividend of Rs. 2.50 per share, translating to 25% for the year ended June 30, 2026, as recommended by the Board of Directors. Additionally, the appointment of statutory auditors for the fiscal year ending June 30, 2027, and the determination of their remuneration will be on the table.
In the realm of special business, shareholders will deliberate on ratifying and approving transactions conducted with related parties during the past financial year. The Board of Directors will seek authorization to approve future transactions with related parties, which will later be presented at the next AGM for formal ratification.
According to information available from the Pakistan Stock Exchange (PSX), Prosperity Weaving Mills Limited is categorized under the designated market category, a critical factor in the investment landscape. The meeting will also address any other ordinary business with the permission of the Chair.
Statements under Section 134 (3) of the Companies Act, 2017 and relevant regulations are annexed to the notice, providing further clarity on the proceedings and resolutions.