Karachi: Ali Asghar Textile Mills Limited has issued a notice for its 59th annual general meeting, scheduled to take place on October 28, 2025, at 11 A.M. The meeting will occur at Plot #6, Sector 25, Korangi Industrial Area, Karachi, with provisions for virtual attendance via video conference.
The agenda for the meeting includes confirming the minutes from the previous annual general meeting held on October 28, 2024, and the adoption of audited accounts for the fiscal year ending June 30, 2025. The appointment and remuneration of auditors for the year ending June 30, 2026, will also be discussed.
In accordance with the Companies Act, 2017, and the Securities and Exchange Commission of Pakistan’s regulations, the company’s financial statements can be accessed through an online weblink. Notably, the company seeks to authorize transactions with related parties, with an acknowledgment that a majority of the directors may have vested interests. However, the members have granted prior approval to ensure transparency in these dealings.
According to information available from the Pakistan Stock Exchange (PSX), Ali Asghar Textile Mills Limited and its board have been granted advanced authorization to review and approve related party transactions, which will be presented for ratification at the subsequent annual general meeting. This measure aligns with sections 207 and 208 of the Companies Act, 2017.
The meeting will also address other business matters with the chair’s permission. Shareholders are encouraged to update their contact information with C8K Management Associates (PVT) Limited to receive communications efficiently. The company has provided detailed guidelines for CDC account holders and proxy appointments, emphasizing compliance with the Securities and Exchange Commission of Pakistan’s regulations.
Further details, including the company’s accounts and material information, are available on the company’s website.