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Karachi, In a recent circular resolution, the Board of Directors of Shahzad Textile Mills Limited has made significant decisions regarding the company’s future plans. Firstly, the board has decided to cancel the Extraordinary General Meeting (EOGM) that was scheduled for June 21, 2023. The proposed agenda item of increasing the authorized share capital of the company will no longer proceed.
Additionally, the planned amendment to the company’s Articles of Association for Capitalization of Profits has been deferred. The change will now be discussed and potentially approved at the next general meeting of the company, which will be announced in due course.
Furthermore, the previously announced book closure, which was set to take place in the near future, has been canceled. Shareholders will be informed about any revised dates or updates regarding the book closure process.
These decisions by the Board of Directors indicate a shift in the company’s strategic direction and financial plans. Shareholders and stakeholders are encouraged to stay updated with the upcoming general meeting, where important matters regarding the capitalization of profits and other key decisions will be discussed.
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