Multan: Reliance Weaving Mills Limited has announced the agenda for its 35th Annual General Meeting (AGM), set to take place on October 28, 2025, at 3:00 pm. Shareholders will have the option to attend in person at the Trust Plaza in Multan or participate via video link. The meeting will address both ordinary and special business items critical to the company's operations and future engagements.
On October 6, 2025, the company disclosed that the AGM notice, along with necessary documents such as the ballot paper and a statement under Section 134(3) of the Companies Act, 2017, would be circulated among shareholders. This notice is scheduled for publication in two leading newspapers on October 7, 2025, ensuring widespread dissemination among stakeholders.
The AGM will first address ordinary business matters, including the confirmation of minutes from the previous AGM held on October 28, 2024. The meeting will consider the audited financial statements for the year ending June 30, 2025, and the reappointment of M/s. ShineWing Hameed Chaudhri & Co. as auditors for the upcoming fiscal year. The agenda also includes ratification of related party transactions and authorizations for future dealings.
In a notable development, Reliance Weaving Mills Limited plans to invest in associated companies through working capital loans. The total proposed loans amount to PKR 1.30 billion, with allocations to entities such as Fatima Sugar Mills Limited and Fatima Holding Limited. This strategic financial maneuver aims to bolster the company's investment portfolio within its network of associated firms.
The AGM will further authorize the Board of Directors to approve related party transactions for the fiscal year ending June 30, 2026. The transactions will undergo shareholder ratification in the subsequent AGM, aligning with corporate governance protocols.
To facilitate shareholder participation, Reliance Weaving Mills Limited has enabled electronic voting and postal ballot systems for the special business items on the agenda. Voting lines will be open from October 23 to October 27, 2025, providing a window for shareholders to cast their votes conveniently.
A scrutinizer, M/s. Nasir Javaid Maqsood Imran, has been appointed to oversee the voting process for special business, ensuring compliance with regulatory frameworks.
According to information available from the Pakistan Stock Exchange (PSX), the company's operational and financial strategies will be a focal point of the AGM discussions, reflecting its commitment to transparency and shareholder engagement.
Additionally, the company has reiterated compliance with regulatory requirements, including the prohibition of gift distributions at meetings, and has urged shareholders to update their CNIC and NTN details to ensure seamless communication and participation.
Reliance Weaving Mills Limited's proactive agenda and structured approach to governance underscore its dedication to maintaining robust shareholder relations and enhancing its market presence.