Faisalabad: Asim Textile Mills Limited has announced the schedule for its Annual General Meeting (AGM), set to take place on October 28, 2025, at its registered office in Faisalabad. The meeting will commence at 9:30 AM and will address several important matters, including the adoption of the audited accounts and the appointment of auditors for the upcoming year.
The AGM will first confirm the minutes of the previous year’s meeting held on October 28, 2024. Shareholders will then review and consider adopting the audited accounts for the year ending June 30, 2025, along with the accompanying Directors’ and Auditors’ reports. A significant item on the agenda is the appointment of M/S Kreston Hyder Bhimji & Co. Chartered Accountants as the auditors for the fiscal year ending June 30, 2026, with their remuneration to be decided.
In a move towards modernizing the dissemination of its financial reports, the company plans to propose a resolution that would allow the circulation of annual audited financial statements via a QR-enabled code and weblink to its shareholders. This proposal aligns with the Securities and Exchange Commission of Pakistan’s notification S.R.O. 389(1)/2023, dated March 21, 2023. The shift aims to enhance accessibility and address technological challenges while maintaining shareholders’ rights to receive printed statements.
According to information available from the Pakistan Stock Exchange (PSX), this change is part of a broader trend among listed companies to leverage digital platforms for shareholder communications.
The company’s share transfer books will remain closed from October 21, 2025, to October 28, 2025, with transfers received by the close of business on October 20, 2025, being processed in time. Shareholders wishing to attend the meeting virtually must register by October 27, 2025, and provide necessary details such as their CNIC numbers, folio numbers, and email addresses. Additionally, a video conference facility may be arranged if requested by shareholders holding at least 10% of the company’s shares.
Asim Textile Mills Limited has also invited shareholders to opt for digital delivery of notices and annual financial statements via email by providing their consent and valid email addresses. However, this option remains voluntary, and printed documents will continue to be available.