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Karachi, Ahmad Hassan Textile Mills Limited has announced an Extraordinary General Meeting (EGM) to be held on June 21, 2023, in Multan. The meeting will address various matters, including ordinary and special business, as well as any additional items brought forward.
Under ordinary business, the first agenda item will involve confirming the minutes of the last Annual General Meeting (AGM) that took place on October 28, 2022.
Moving on to special business, the shareholders will consider and potentially pass special resolutions. The primary special resolution to be discussed is the proposed increase in the company’s Authorized Share Capital. The current capital of Rs. 200,000,000 (Rupees two hundred million) is expected to be raised to Rs. 1,400,000,000 (Rupees fourteen hundred million). This alteration will result in the amendment of Clause V in the Memorandum of Association, substituting the current figures and words with the revised amount. The authorized share capital will be divided into 140,000,000 ordinary shares of Rs. 10/- each. The board of directors will remain the same, with no changes in other clauses.
Additionally, the EGM will pass a resolution authorizing the Chief Executive and the Company Secretary, either individually or jointly, to implement the approved resolutions effectively.
In addition to the proposed resolutions, the meeting will address any other business that may arise, subject to the Chair’s permission.
It is important to note that the Share Transfer Books of Ahmad Hassan Textile Mills Limited will remain closed from June 14, 2023, to June 21, 2023, inclusively.
Shareholders and stakeholders are eagerly awaiting the EGM, as the decisions made during the meeting will have a significant impact on the future trajectory of Ahmad Hassan Textile Mills Limited.