Faisalabad: J.K. Spinning Mills Ltd. has scheduled its 39th Annual General Meeting (AGM) for October 24, 2025, at 11:30 AM. The meeting will take place at 29 K.M, Sheikhupura Road, Khurrianwala, Faisalabad, with an option for participants to join via video link. This meeting will focus on several key financial and operational decisions pertinent to the company's stakeholders.
Among the ordinary business to be discussed, the company will present the Annual Audited Accounts for the fiscal year ending June 30, 2025, alongside the Directors' and Auditors' reports. The appointment of M/s Riaz Ahmad and Company, Chartered Accountants, as auditors for the 2025-2026 financial year, will also be proposed, with their remuneration to be determined. Additionally, a final cash dividend of Rs.2 per share, equivalent to 20%, will be considered for ordinary shareholders, excluding Directors, CEO, their spouses, and close relatives, as recommended by the Board of Directors.
The AGM will also address special business matters, including the ratification and approval of transactions conducted with related parties for the year ended June 30, 2025. Furthermore, the Board of Directors seeks authorization to approve transactions with related parties and conduct sales and purchases with associated companies such as J.K. Tech (Pvt.) Limited, J.K. Agriculture Farms (Pvt.) Limited, and Fine Fabrics (Pvt.) Limited up to specified amounts for the period ending June 30, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the company emphasizes the importance of these transactions for maintaining transparent business practices. Details of these transactions are disclosed in Note 42 of the company's financial statements for the year ended June 30, 2025. The meeting will also provide an opportunity for shareholders to vote on these matters through e-voting or postal ballot, with specific procedures outlined for both methods.
J.K. Spinning Mills Ltd. has requested shareholders to ensure their shares are converted into book-entry form as per the requirements of the Companies Act, 2017. Additionally, the company has highlighted the current withholding tax rates on dividend payments, urging shareholders to ensure their active taxpayer status to benefit from a reduced tax rate of 15% on dividends.
The AGM notice, including all relevant details and procedures, has been made available on the company's official website, offering transparency and accessibility to all interested parties.