Karachi, In an Extraordinary General Meeting held on June 15, 2023, Indus Dyeing & Manufacturing Company Limited made significant decisions regarding the company's future. Shareholders gathered to pass resolutions on various matters, including the confirmation of the minutes from the last Annual General Meeting and the election of directors.

During the meeting, the shareholders unanimously confirmed the minutes of the Annual General Meeting held on January 19, 2023, acknowledging the accuracy and validity of the proceedings.

The second resolution focused on the election of directors for the next three-year term, starting from June 16, 2023, until June 15, 2026. Ten individuals were declared as directors of the company, having been elected unopposed. The newly elected directors are Mr. Naveed Ahmed, Mian Shahzad Ahmed, Mian Imran Ahmed, Mr. Kashif Riaz, Mr. Irfan Ahmed, Mr. Sheikh Shafqat Masood, Mrs. Fadia Kashif, Mr. Faisal Hanif, Mr. Amir Amin, and Ms. Azra Yaqub Vawda. Their expertise and contributions are expected to drive the company's success in the coming years.

In terms of special business, the shareholders considered the recommendation of the company's management regarding an increase in the authorized share capital. After careful deliberation, the shareholders decided not to proceed with the proposed increase. Consequently, the authorized share capital of the company will remain at Rs. 10,000,000,000/- (Rupees One Billion) rather than being raised to Rs. 25,000,000,000/- (Rupees Twenty-Five Billion).

These resolutions mark significant developments in the strategic direction of Indus Dyeing & Manufacturing Company Limited, solidifying the composition of its board of directors and clarifying the authorized share capital moving forward. The decisions made during the Extraordinary General Meeting reflect the company's commitment to effective governance and its focus on long-term growth and stability in the textile industry.