Lahore: Shareholders of Saritow Spinning Mills Limited convened for their annual general meeting on Wednesday, October 28, 2026, at the company's headquarters located at 06-Egerton Road, opposite LDA Plaza. During the meeting, several key resolutions were unanimously passed by the members.

The shareholders approved the annual audited accounts for the fiscal year ending June 30, 2026, along with the accompanying Directors' and Auditors' Reports. The adoption of these accounts marks a pivotal step in the company’s financial reporting for the year.

In a related decision, M/s Rahman Sarfaraz Rahim Iqbal Rafiq & Co., Chartered Accountants, based in Lahore, were appointed as the auditors for the ensuing year. The Chief Executive of Saritow Spinning Mills Limited has been authorized to determine their remuneration for the upcoming period.

Further, the shareholders ratified the related party transactions conducted during the financial year ended June 30, 2026. These transactions, as detailed in Note No. 34.1 of the Financial Statements, received approval for the past fiscal year. The Board of Directors has been granted the authority to engage in related party transactions for the financial year ending June 30, 2027, with the requirement that such activities be presented for ratification at the next annual general meeting.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions align with the company's ongoing governance and compliance measures within the designated market category.

The meeting concluded with a directive that future related party transactions will continue to be subject to shareholder approval, ensuring transparency and accountability in the company's operational practices.