Karachi: Jubilee Spinning and Weaving Mills Limited has announced the shifting of its registered office from Johar Town, Lahore, to Manghopir Road, S.I.T.E., Karachi, effective from the upcoming Annual General Meeting (AGM) scheduled for October 25, 2024. The company will hold its 51st AGM at 10:30 AM at the new location to address key business agendas, including the adoption of the latest audited financial statements and the appointment of auditors.
The notice, issued on October 2, 2024, outlines the ordinary and special business items for the meeting, which will also see shareholders vote on the proposed office relocation. According to information available from the Pakistan Stock Exchange (PSX), the shift aims to align the company’s operational base with its strategic goals, fostering better integration of its activities across various regions.
The company has disclosed that the decision to relocate is in compliance with Section 21 of the Companies Act, 2017, and has received preliminary approval from the board. The move is part of a broader strategy to enhance operational efficiencies and streamline processes within the company’s extensive manufacturing and distribution network.
The members’ register will remain closed from October 18 to 25, 2024, to facilitate administrative arrangements surrounding the AGM. This closure will also affect the physical and CDC transfers, which will be processed up to October 17, 2024.