Islamabad: Elahi Cotton Mills Limited has scheduled its 54th Annual General Meeting (AGM) for October 25, 2024, at its Islamabad location, with arrangements for virtual participation via video link to accommodate shareholder safety and convenience. The meeting aims to cover essential corporate governance and financial matters.
The AGM will focus on confirming the minutes from the previous year's meeting and examining the audited financial statements for the fiscal year ending June 30, 2024. Additionally, shareholders will review the Chairman's Report and the reports from the directors and auditors. A significant agenda item includes the reappointment of M/s. BDO Ebrahim and Co, Chartered Accountants, Islamabad, as the company's external auditors with the directors’ and Audit Committee’s endorsement.
According to information available from the Pakistan Stock Exchange (PSX), shareholders wishing to attend the AGM virtually must register by October 21, 2024, providing specific details via email for verification. The company also intends to facilitate shareholder participation through proxies, adhering to protocols detailed in their recent communications.
The shareholder's register will be closed from October 19 to October 25, 2024, for preparations. Proxy forms and relevant authorizations are required to be submitted at the company's registered office at least 48 hours before the meeting to be considered valid.
In line with the Securities and Exchange Commission of Pakistan's guidelines and the Companies Act, Elahi Cotton Mills is advocating for the conversion of physical shares into book-entry form. This move aims to streamline share management and enhance regulatory compliance. Moreover, the company has addressed unclaimed dividends, urging shareholders to consult the registrar for payment details.
Elahi Cotton Mills emphasizes the importance of updating shareholder contact details to ensure efficient communication and handling of corporate matters. The company has made its audited financial statements accessible online, providing a QR code and a direct web link for shareholder review, with an option for receiving hard copies upon request.