Mardan: Chashma Sugar Mills Limited has announced the convening of its 38th Annual General Meeting (AGM) scheduled for January 28, 2026. The meeting will take place at the company's registered office located on Nowshera Road, Mardan, at 11:00 AM.
The AGM will address several key agenda items, including the confirmation of minutes from the previous Extra Ordinary General Meeting held on April 3, 2025. Shareholders will also review and adopt the audited financial statements for the fiscal year ending September 30, 2025, alongside reports from the directors and auditors.
One of the significant resolutions to be considered involves the re-appointment of M/s. ShineWing Hameed Chaudhri & Co., Chartered Accountants, Lahore, as the company's auditors for the financial year ending September 30, 2026. The current auditors have offered themselves for re-appointment.
In a notable move under special business, shareholders will deliberate on the conversion of an outstanding receivable from Whole Foods (Private) Limited into an equity investment. This decision stems from a loan agreement dated October 1, 2023, with amendments made on February 26, 2025. The outstanding receivable, amounting to Rs. 772,233,277 as of September 30, 2025, is forecasted to reach Rs. 880,000,000 by October 25, 2027.
Additionally, the AGM will address related party transactions conducted during the financial year ending September 30, 2025. According to information available from the Pakistan Stock Exchange (PSX), these transactions have been executed in the ordinary course of business and are subject to ratification by the shareholders. The Board of Directors and the Chief Executive Officer have been authorized to approve ongoing and future related party transactions in compliance with the Companies Act, 2017.
A proposed 10% salary increase for working and executive directors, effective from November 1, 2025, will also be presented for approval. This increment was initially approved by the Board on October 3, 2025.
The company's shareholders have been invited to participate in the AGM through electronic means, as advised by the Securities and Exchange Commission of Pakistan. Members interested in this option are required to register by January 26, 2026.
As part of its compliance with the Companies Act, 2017, Chashma Sugar Mills Limited is encouraging shareholders to convert their physical shareholdings into book-entry form to facilitate trading and safe custody.
The AGM notice, published in "The Daily Observer" and "The Daily Assas" on January 6, 2026, also highlights the availability of e-voting and postal balloting options for shareholders, ensuring wider participation.