Lahore: Ghazi Fabrics International Limited has announced the agenda for its 37th Annual General Meeting, scheduled for October 27, 2026, at The Noor Jahan Banquet Hall in Lahore. The company is set to address several ordinary and special business matters during the meeting.
The company will confirm the minutes from its previous 36th Annual General Meeting held on October 28, 2025. Shareholders will also be asked to consider and adopt the audited financial statements for the fiscal year ending June 30, 2026, along with the associated reports from the auditors, chairman, and directors.
A significant agenda item includes the appointment of auditors for the upcoming fiscal year ending June 30, 2027. M/s. Qadeer & Co., Chartered Accountants, the current auditors, have expressed their willingness to continue, and both the Audit Committee and Board of Directors have recommended their reappointment.
In an important move, the meeting will also involve the election of seven directors to serve a three-year term beginning October 27, 2026. The current directors eligible for reappointment include Mr. Mohammad Arshad Chaudhary, Mr. Kamran Arshad, Mrs. Azra Yasmin, Mr. Rizwan Arshad, Mrs. Wajeeha Haaris, Mr. Khawaja Waheed Raza, and Mr. Muhammad Imran Rasheed, with Mr. Rasheed not seeking reelection.
According to information available from the Pakistan Stock Exchange (PSX), a special resolution will be proposed to authorize the sale of outdated plant and machinery from the Spinning Unit due to inefficiencies. The proceeds from this sale are intended to repay a director's loan and fund new technology acquisitions aimed at enhancing production efficiency and reducing energy consumption.
Additionally, shareholders will review a resolution to sell the company's Head Office premises, with the proceeds similarly directed towards loan repayment and technological upgrades. The sale will be conducted at a consideration not less than the fair market value as determined by an independent valuer.
The meeting will also entertain any other ordinary business matters with the Chair's permission. The company has scheduled the closure of share transfer books from October 20 to October 27, 2026, ensuring timely processing by M/s. Corplink (Pvt) Limited, its share registrars, for attendance and voting purposes.