Karachi, Sally Textile Mills Limited has officially notified its shareholders regarding the upcoming 55th Annual General Meeting (AGM), scheduled to take place in October 2023 in Lahore. The AGM will address significant matters pertaining to the company's financial performance and governance. Here are the key agenda items and essential notes for shareholders:

Confirmation of Previous AGM Minutes: The AGM will commence with the confirmation of the minutes of the 54th Annual General Meeting held on October 26, 2022.

Review and Adoption of Accounts: Shareholders will receive and adopt the accounts of the company, including the Directors' report, for the fiscal year ending on June 30, 2023.

Appointment of Auditors: The AGM will also involve the appointment of auditors for the financial year 2023-2024, along with the determination of their remuneration.

Important Notes for Shareholders:

I. Closure of Shares Transfer Books: The shares transfer books of Sally Textile Mills Limited will be closed from October 14, 2023, to October 25, 2023, inclusive of both dates. Share transfers received and verified by the Share Registrar, M/S Corplink (Pvt) Ltd, located at Wing Arcade, 1-K, Commercial Model Town, Lahore, on or before October 13, 2023, will be considered timely for the purpose of attending the AGM.

II. Contesting Election of Directors: Any individual seeking to contest the election of Directors must submit a letter of intention to offer themselves for election as a director, along with several required documents, to the company's registered office no later than fourteen (14) days before the meeting. This is in accordance with section 159(3) of the Companies Act, 2017.

III. Attendance via Central Depository Company (CDC): Shareholders who have deposited their shares with the Central Depository Company of Pakistan Limited (CDC) must present their participant's ID number and CDC account/sub-account number, along with their original Computerized National Identity Card (CNIC) or passport when attending the meeting.

IV. Proxy Voting: Shareholders entitled to attend and vote at the meeting have the option to appoint another member as their proxy to attend, speak, and vote on their behalf. Proxy forms must be properly filled out and executed and received at the company's registered office in Lahore no later than 48 hours before the meeting.

V. Update Contact Information: Shareholders are encouraged to promptly notify the Share Registrar of any changes in their addresses.

VI. Submission of CNIC Copies: Shareholders who have not yet submitted photocopies of their valid Computerized National Identity Cards (CNIC) are urged to do so at the earliest.

VII. Proxy Forms Sent to Members: Forms of proxy are being dispatched to members to facilitate their participation in the AGM.

These comprehensive details aim to ensure that shareholders are well-informed and prepared for the 55th Annual General Meeting of Sally Textile Mills Limited, reinforcing the company's commitment to transparency and accountability in its operations.