Lahore: In a significant development at Sally Textile Mills Limited, the 58th Annual General Meeting concluded with the unopposed election of the company's board of directors. The meeting, which took place on October 23, 2026, saw the approval of several key resolutions by the shareholders.

The members of the company formally adopted the audited financial statements for the fiscal year ending June 30, 2026, along with the accompanying Directors' and Auditors' Reports, as per the first resolution passed during the meeting.

In a noteworthy event under Resolution No. 2, the election of seven directors was conducted in compliance with Section 159 of the Companies Act, 2017. The candidates, whose numbers matched the vacancies, were elected without contest. The elected directors for the upcoming three-year term include Mian Iqbal Salahuddin, Mst. Munira Salahuddin, Mian Yousaf Salahuddin, Mian Asad Salahuddin, Mian Sohail Salahuddin, Syed Abid Raza Zaidi, and Muhammad Khalil Latif.

Resolution No. 3 saw the appointment of M/s Sarwars Chartered Accountants as the auditors for the financial year ending June 30, 2027. This decision highlights the company's commitment to maintaining transparent and accountable financial practices.

Furthermore, the meeting authorized the company's Chief Executive and Company Secretary to execute all necessary filings with the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange Limited, among other authorities. According to information available from the Pakistan Stock Exchange (PSX), this step is crucial for ensuring regulatory compliance and facilitating the implementation of decisions made at the meeting.

The positive outcomes of the annual general meeting reflect Sally Textile Mills Limited's focus on governance and operational transparency, as it continues to navigate the complexities of the textile industry within the designated market category.