Rawalpindi: Shareholders of D.M. Corporation Limited, formerly known as D.M. Textile Mills Ltd, convened at the Shalimar Hotel in Rawalpindi on October 28, 2026, for their annual general meeting. During the meeting, several significant resolutions were unanimously approved, reflecting the company's ongoing strategic and financial initiatives.
The first resolution saw the adoption of the company's Annual Audited Financial Statements for the fiscal year ending June 30, 2026. This included the Chairman's Review Report, Directors' Report, and Auditors' Reports, alongside all other statements featured in the Annual Report.
In a move to ensure continued financial transparency, the shareholders approved the appointment of M/s. Mushtaq & Co, Chartered Accountants, to audit the financial statements for the year ending June 30, 2027. The Chief Executive Officer has been granted authority to negotiate and finalize the audit fee for the forthcoming fiscal year.
The meeting also sanctioned the company's investments through its wholly owned subsidiaries, which amounted to 182.611 million Pakistani Rupees as of June 30, 2026. These investments, made on a short-term and net profit-sharing basis, were ratified with an overwhelming consensus. The CEO has been empowered to manage these investments, including profit withdrawals and further investments as necessary.
Resolution four addressed a legal matter, aligning with a judgment from the Islamabad High Court dated February 12, 2026. This resolution approved the transfer of property title in favor of the company and ratified the historical claim of Mr. Mian Habib Ullah, pending successful title transfer. The Board's approval was further cemented by authorizing the CEO, alongside other key officers, to execute necessary agreements and manage financial calculations and payments as per the approved methodologies.
According to information available from the Pakistan Stock Exchange (PSX), D.M. Corporation's strategic decisions underscore its commitment to financial prudence and legal compliance. The resolutions passed reflect a robust framework for future investments and asset management, ensuring the company's stability and growth in the market.
The resolutions passed at the meeting highlight the ongoing efforts of D.M. Corporation Limited to maintain governance and financial integrity, setting a clear path for the financial year ahead.