Bannu: Bannu Woollen Mills Limited held its 65th Annual General Meeting on October 18, 2025, at its registered office on D.I. Khan Road, Bannu. During the meeting, several resolutions were passed, marking important developments for the company.

The meeting commenced with shareholders confirming the minutes of the previous Annual General Meeting held on October 26, 2024. This resolution was unanimously adopted as an ordinary resolution.

The shareholders proceeded to approve and adopt the company’s annual audited financial statements for the fiscal year ending June 30, 2025. This included the Chairman’s review, Directors’, and auditors’ reports, which were previously approved by the Board of Directors. This resolution was also passed as an ordinary resolution.

In another key decision, the shareholders reappointed M/s. ShineWing Hameed Chaudhri & Co. Chartered Accountants as the statutory auditors for the fiscal year ending June 30, 2026. Their remuneration was also fixed during the meeting, with the resolution receiving unanimous approval.

The meeting further addressed transactions with associated companies and related parties. Shareholders ratified and confirmed these transactions for the year ended June 30, 2025. Moreover, a special resolution was passed authorizing the Chief Financial Officer to approve all related transactions for the upcoming fiscal year ending June 30, 2026. This resolution included a provision for presenting related party transactions to the shareholders at the next annual general meeting for formal ratification.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions are now effective and signify the company’s commitment to transparency and compliance with regulatory standards.

The meeting concluded with a certification that all resolutions were duly passed, underscoring the company’s dedication to maintaining robust corporate governance practices.