AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: Nazir Cotton Mills Limited has announced an Extraordinary General Meeting (EOGM) scheduled for July 27, 2024, to elect new directors and adopt digital methods for distributing financial statements to shareholders.
The meeting will focus on the election of seven directors for a three-year term starting from the same day. The nominees eligible for re-election include Mr. Muhammad Tayyab, Mian Farrukh Naseem, Mian Aamir Naseem, Mr. Maqbool Hussain Bhutta, Mr. Muhammad Abbas, Mr. Asim Mahmood Bhatti, and Mr. Muhammad Irfan.
According to information available from the Pakistan Stock Exchange (PSX), a special resolution will also be considered at the meeting to approve the transmission of the company’s audited annual financial statements via a QR-enabled code and web link. This digital approach follows the permission granted by the Securities and Exchange Commission of Pakistan under SRO No. 389(1) 2023 dated March 21, 2023. This method aims to replace the current practice of distributing physical copies or digital media such as CDs or USBs.
The CEO and/or Company Secretary are authorized to implement this resolution, marking a significant shift towards digital communication with shareholders to enhance accessibility and efficiency.