Lahore: Nazir Cotton Mills Limited has successfully concluded its Annual General Meeting, held on October 28, 2026, at the company's registered office in Lahore. Shareholders gathered to approve key resolutions concerning the company's financial and operational undertakings.

The meeting saw the adoption and approval of the audited financial statements for the fiscal year ending on June 30, 2026. This resolution, constituting the first agenda item, included the Chairman's Review Report, Directors', and Auditors' Reports. The documents were circulated among the members prior to the meeting and were formally accepted without objection.

In a subsequent resolution, M/s Kamran & Co. Chartered Accountants received appointment as the auditors for the upcoming year. The Chief Executive Officer was further authorized to finalize their remuneration, ensuring continued financial oversight until the next Annual General Meeting.

The shareholders also addressed special business matters involving related party transactions. The meeting ratified and approved transactions, including a repayment of a sponsor's loan amounting to Rs 97,144,774. According to information available from the Pakistan Stock Exchange (PSX), this financial maneuver reflects a strategic move to manage the company's fiscal responsibilities.

Additionally, the company resolved to authorize transactions with related parties on an arm's length basis for the financial year ending June 30, 2027. This decision permits the company to conduct necessary business transactions without any monetary caps, facilitating operational flexibility. The Chief Executive and designated officers have been authorized to execute agreements and necessary documentation to implement these resolutions effectively.

The resolutions passed during the AGM underscore Nazir Cotton Mills Limited's commitment to maintaining transparent financial practices and strategic management of related party interactions within the textile sector.