Karachi: Faisal Spinning Mills Limited has scheduled its 40th Annual General Meeting (AGM) for the 28th of October, 2024, in Karachi, where shareholders will address both ordinary and special business, including the adoption of the latest audited financial statements and the reappointment of auditors.

The upcoming AGM will notably review and confirm the minutes from the previous meeting held on October 27, 2023. Key on the agenda is the examination of the company's financial achievements, as outlined in the audited statements for the fiscal year ending June 30, 2024, complemented by both auditors' and directors' reports. According to information available from the Pakistan Stock Exchange (PSX), these documents have been made accessible online as mandated by Section 223 of the Companies Act, 2017, and can be downloaded via the company's website.

Additionally, the AGM will address the appointment and remuneration of the auditors for the 2024-2025 term. The present auditors, Messer’s Mushtaq and Company, Chartered Accountants, are poised for reappointment with a proposed fee of PKR 2,775,000.00, maintaining last year's rate. This meeting is pivotal for stakeholders aiming to maintain robust fiscal oversight and strategic planning for the coming year.