Karachi: Reliance Cotton Spinning Mills Limited has issued a notice for its 35th Annual General Meeting (AGM), scheduled for October 28, 2024, at Karachi.
According to the AGM notice, the meeting will confirm the minutes of the last General Meetings held on October 26, 2023, and September 26, 2024. Shareholders will also receive, consider, and adopt the audited financial statements for the year ended June 30, 2024, including reports from the Chairman, Directors, and Auditors. A final dividend for the year will be up for approval, and the appointment of auditors for the upcoming fiscal year will be discussed. The current auditors, Shinewing Hameed Chaudhri and Co., are due to retire and have offered themselves for reappointment.
In compliance with the Companies (Postal Ballot) Regulations, 2018, the AGM notice and ballot paper have been published in "Business Recorder" and "Nai Baat" and uploaded to the company's website. According to information available from the Pakistan Stock Exchange (PSX), this initiative ensures that all shareholders have the opportunity to participate in the decision-making process through e-voting, aligning with regulatory requirements and enhancing transparency in corporate governance.
The designated market category for this announcement is the textile sector, where Reliance Cotton Spinning Mills Limited operates as a significant player. The publication of these documents and the upcoming AGM underscore the company’s commitment to adhering to regulatory standards and engaging its shareholders actively.