Karachi, Dar es Salaam Textile Mills Limited has announced an Extraordinary General Meeting scheduled for June 27, 2023, in Lahore. The purpose of the meeting is to discuss and approve a proposed change in the principal line of business outlined in the company's Memorandum of Association and Articles of Association.
The meeting will focus on passing special resolutions, with or without modifications, additions, or deletions as per the provisions of the Companies Act, 2017. Members of the company will have the opportunity to provide their consent for the alteration of Clause III and its sub-clauses numbered from 1 to 57 in the Memorandum of Association.
The proposed change aims to allow the company to engage in legally permissible activities such as sales, purchases, imports, exports, and acting as general traders and order suppliers of various products and commodities. Furthermore, the company seeks to enter the food and beverages business, establish joint arrangements, and consider mergers with other businesses that align with the company's objectives and are permitted by law.
This meeting represents a crucial step in the evolution of Dar es Salaam Textile Mills Limited, as it explores new avenues and diversifies its operations. By gaining approval from the members of the company, the proposed changes will pave the way for potential growth and consolidation of the company's business.
The outcome of the Extraordinary General Meeting will determine the future direction and expansion plans of Dar es Salaam Textile Mills Limited, as it strives to adapt to changing market dynamics and seize new opportunities in the business landscape.