Allawasaya Textile and Finishing Mills Limited to Determine Board Size for Next Term

Multan, Allawasaya Textile and Finishing Mills Limited has announced a forthcoming meeting of its Board of Directors scheduled for April 15, 2024, in Multan. The primary agenda of this meeting will include the determination of the number of directors for the next three-year term beginning May 30, 2024, in compliance with Section 159(1) of the Companies Act, 2017. This announcement was made to the Pakistan Stock Exchange (PSE) to ensure transparency and regulatory compliance.

Additionally, the company has declared a closed period from April 8, 2024, to April 15, 2024, in accordance with Clause 5.6.4 (Code of Corporate Governance) of the PSX Rule Book. During this time, directors, the CEO, or any executives are prohibited from dealing directly or indirectly with the shares of the company.

This move is part of the company’s efforts to maintain governance standards and ensure that all dealings are conducted fairly and transparently, safeguarding the interests of all stakeholders.