Lahore: Nazir Cotton Mills Limited has scheduled an Extraordinary General Meeting (EOGM) for July 27, 2024, in Lahore, to address significant matters including the election of directors and the adoption of digital financial reporting methods.

According to information available from the Pakistan Stock Exchange (PSX), the agenda for the meeting includes the election of seven directors for a three-year term, commencing from July 27, 2024. The directors eligible for re-election are Mr. Muhammad Tayyab, Mian Aamir Naseem, Mr. Muhammad Abbas, Mr. Muhammad Irfan, Mian Farrukh Naseem, Mr. Maqbool Hussain Bhutta, and Mr. Asim Mahmood Bhatti.

In addition to the standard electoral procedures, the EOGM will also consider a special resolution to transition the distribution of the company's audited annual financial statements. If approved, future financial disclosures such as the annual balance sheet and profit & loss account will be transmitted to shareholders through QR-enabled codes and web links. This initiative, sanctioned by the Securities and Exchange Commission of Pakistan via SRO No. 389(1) 2023 dated March 21, 2023, aims to replace traditional physical mediums like CDs and USBs, enhancing accessibility and environmental sustainability.

The proposed digital transition is part of Nazir Cotton Mills' broader strategy to modernize its shareholder communications and align with global best practices in corporate transparency and governance.