Karachi: Bhanero Textile Mills Limited has announced the convening of its 47th Annual General Meeting, scheduled for October 27, 2026. The meeting will take place at 3:00 pm at the company's registered office located at Umer House, 23/1, Sector 23, S. M. Farooq Road, Korangi Industrial Area, Karachi. The agenda includes both ordinary and special business matters.
The ordinary business on the agenda involves the confirmation of minutes from the extraordinary general meeting held on June 15, 2026. Additionally, members will receive and review the audited financial statements for the fiscal year ending June 30, 2026. This will be alongside the chairman's review, independent auditor's report, director's report, and other relevant disclosures.
A critical item on the agenda is the appointment of auditors for the financial year 2026-2027. Messer's Mushtaq and Company, Chartered Accountants, the retiring auditors, have offered themselves for reappointment with a proposed remuneration of PKR 2,600,000, consistent with the previous year's fee.
Special business will include resolutions related to related party transactions, as per Section 208 of the Companies Act, 2017. The meeting will seek approval to ratify transactions disclosed in the financial statements for the year ended June 30, 2026, and authorize the board to approve future related party transactions on a case-by-case basis for the financial year ending June 30, 2027. These transactions will later be presented to shareholders for formal ratification.
According to information available from the Pakistan Stock Exchange (PSX), the meeting notice and associated documents have been dispatched to shareholders and uploaded to the company's website. Compliance with regulatory requirements, as stipulated by the Securities and Exchange Commission of Pakistan, includes electronic transmission of the annual general meeting notice and the annual report to shareholders with registered email addresses.
The meeting will conclude with the opportunity to address any other business with the chairman's permission. The company remains committed to transparent communication with its shareholders, ensuring all relevant information is accessible and up-to-date.