Karachi: Reliance Cotton Spinning Mills Limited has announced that its 36th Annual General Meeting (AGM) is scheduled to take place on Monday, October 27, 2025. The meeting will be held at the Trading Hall, Cotton Exchange Building, I.I. Chundrigar Road, Karachi, commencing at 12:15 p.m. The company outlined several key business items to be addressed, including the confirmation of minutes from the last General Meeting held on April 22, 2025, and the presentation of audited financial statements for the year ended June 30, 2025.
The AGM agenda comprises both ordinary and special business items. The company intends to approve a final dividend for the financial year ending June 30, 2025, and appoint auditors for the next fiscal year, with the current auditors, M/s Shinewing Hameed Chaudhri & Co., offering themselves for reappointment. Special resolutions will also be considered regarding related party transactions as per Section 208 of the Companies Act, 2017.
According to information available from the Pakistan Stock Exchange (PSX), Reliance Cotton Spinning Mills Limited is classified under the textile industry, a sector that plays a vital role in the country's economy. Shareholders are encouraged to engage with the meeting through various channels, including a video conference facility via Zoom, ensuring broader participation.
The company has also provided detailed instructions for shareholders regarding proxy appointments, postal ballots, and e-voting procedures. Shareholders holding physical shares are advised to convert them into scripless form to comply with Section 72 of the Companies Act, 2017.
The notice emphasized compliance with tax regulations, urging shareholders to ensure their details are up-to-date in the Active Taxpayers List to benefit from reduced withholding tax rates on dividends. Furthermore, the company reiterated its commitment to transparent business practices, with related party transactions conducted on an arm's length basis and subject to shareholder approval.
In line with regulatory requirements, the company has made its annual report available online and through QR code access, while clarifying that no gifts or incentives will be provided in connection with the AGM.