KARACHI: Ali Asghar Textile Mills Limited has announced that its 57th Annual General Meeting (AGM) will take place on October 28, 2024. The meeting will be held at Karachi. The AGM agenda includes several key points for discussion aimed at steering the company through the upcoming fiscal year.

The meeting will commence with the confirmation of the minutes from the last AGM held on October 26, 2023. Shareholders will also receive, consider, and adopt the audited accounts for the fiscal year ended June 30, 2024, along with the auditor’s and director’s report. According to information available from the Pakistan Stock Exchange (PSX), this annual review is crucial for assessing the company’s financial health and strategic direction.

Additionally, the meeting will see the appointment of auditors for the fiscal year ending June 30, 2025, and the fixing of their remuneration. A significant item on the agenda is the election of seven directors for a term of three years, as mandated by the Board in accordance with Section 159 of the Companies Act 2017. The names of the retiring directors proposed for re-election include Mr. Nadeem Ellahi Shaikh, Mr. Abdullah Moosa, Mr. Muhammad Suleman, Mr. Anwar Ali, Mr. Muhammad Afzal, Mr. Muhammad Zubair, and Mr. Ahmed Ali.

This AGM is pivotal as it sets the governance framework for Ali Asghar Textile Mills Limited, ensuring that it remains compliant with corporate regulations and poised for future growth.