Karachi: Bannu Woollen Mills Ltd. has announced the rescheduling of its upcoming Board of Directors meeting, initially set for September 20, 2024, to now take place on September 21, 2024, in Rawalpindi. This meeting is critical as it will involve the consideration and approval of the audited financial statements for the fiscal year ended June 30, 2024, and the declaration of any potential shareholder entitlements.
According to information available from the Pakistan Stock Exchange (PSX), the company has also declared a "Closed Period" from September 13 to September 21, 2024. During this period, regulations prohibit directors, the CEO, and executives from dealing in any manner with the company’s shares.
This precaution is a standard compliance measure under PSX regulations to prevent insider trading and maintain market integrity ahead of significant announcements that could influence the company's share price.
The rescheduling of this meeting allows for more thorough preparation and review of the company's financial outcomes, ensuring that all considerations are well-addressed before any disclosures and decisions. Stakeholders, including TRE Certificate Holders, have been duly informed to adjust their schedules and compliance measures accordingly.