Karachi, Reliance Cotton Spinning Mills Limited has announced an Extraordinary General Meeting scheduled to take place on June 21, 2023, in Karachi. The primary agenda of the meeting is to discuss and potentially pass special resolutions, including an increase in the company's authorized share capital from Rs. 120,000,000 to Rs. 7,620,000,000. The Memorandum and Articles of Association would be amended accordingly to reflect the updated figures.
Furthermore, the meeting aims to seek approval for the transmission of the company's Annual Audited Accounts using QR-enabled codes and web links, as mandated by Notification No. 389(1)/2023 dated March 21, 2023, issued by the Securities Exchange Commission of Pakistan.
Shareholders have been informed that the Chief Financial Officer and/or Company Secretary will be authorized to take any necessary actions to implement the resolutions and fulfill the required corporate and legal formalities.
Additionally, shareholders will have the opportunity to discuss any other business with the permission of the chair. To facilitate the meeting, a statement under Section 134(3) of the Companies Act 2017, along with investment status related to material facts, has been sent to all shareholders alongside the notice.
It is important to note that the share transfer books of Reliance Cotton Spinning Mills Limited will be closed from June 15, 2023, to June 21, 2023, inclusive, in preparation for the meeting.