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Karachi, Janana De Malucho Textile Mills Limited has announced the convening of an Extraordinary General Meeting (EOGM) to be held on June 22, 2023, in Kohat. The meeting aims to address important matters related to the company’s capital and corporate structure.
The EOGM agenda includes both ordinary and special business items. Under ordinary business, the minutes of the previous extraordinary general meeting held on May 20, 2023, will be presented for confirmation.
The special business segment will focus on a crucial resolution concerning the increase of the company’s authorized capital. The proposed resolution, subject to approval, seeks to amend the existing clauses in the Memorandum of Association and Articles of Association. The current authorized capital stands at Rs. 1,600,000,000/- divided into 150,500,000 ordinary shares of Rs. 10/- each and 9,500,000 cumulative redeemable preference shares of Rs. 10/- each. The resolution aims to modify these clauses to accommodate the revised authorized capital structure.
The company emphasizes that the authorized officers, including the Chief Executive Officer and the Company Secretary, will be jointly or severally authorized to complete all necessary legal and corporate formalities related to this resolution. Additionally, they will have the authority to make any further modifications, amendments, or corrections as advised by the Securities and Exchange Commission of Pakistan without the need for another special resolution.
Furthermore, the notice states that the register of members will be closed from June 15, 2023, to June 22, 2023, inclusively.
Janana De Malucho Textile Mills Limited urges its shareholders to attend the Extraordinary General Meeting on June 22, 2023.