561st Annual General Meeting of Nagina Cotton Mills Ltd. to Be Held Virtually on October 27, 2023

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Karachi, In a significant development for shareholders and stakeholders, the 561st Annual General Meeting (AGM) of members of Nagina Cotton Mills Ltd. is scheduled to take place on October 27, 2023. This year’s AGM will be conducted virtually through a video conference facility, allowing participants to engage in the proceedings remotely.

The meeting’s agenda includes several crucial items of business, both ordinary and special, that will have a substantial impact on the company’s future.

Ordinary Business Items:

Confirmation of Minutes: Shareholders will commence the meeting by confirming the minutes of the Extraordinary General Meeting held on June 20, 2023.

Financial Statements: The AGM will then proceed to receive, consider, and adopt the Audited Financial Statements of Nagina Cotton Mills Ltd. for the fiscal year ending on June 30, 2023. These statements will be presented alongside the Chairman’s Review Report, Directors’ Report, and the Auditors’ Report.

Cash Dividend Approval: Shareholders will have the opportunity to approve and declare a final cash dividend of Rs. 6/- per share, equivalent to 60% for the fiscal year ended June 30, 2023. This recommendation comes directly from the company’s Board of Directors.

Auditors Appointment: Another critical matter to be addressed is the appointment of Auditors for the fiscal year ending on June 30, 2024, and the determination of their remuneration.

This AGM marks a crucial juncture for Nagina Cotton Mills Ltd. as it reflects the company’s financial performance, dividend distribution, and future audit oversight. With the virtual format, shareholders from diverse locations can participate seamlessly and exercise their voting rights in these significant decisions.

Nagina Cotton Mills Ltd. continues to strive for transparency and shareholder engagement in its operations, and the virtual AGM is a testament to the company’s commitment to maintaining strong corporate governance practices. The outcome of these deliberations will undoubtedly shape the company’s course for the coming year.

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