Oct 23, 2026, 2:21 PM
Shams Textile Mills shareholders approve FY2026 accounts, appoint auditors and authorize Rs. 2.956 billion investment in Premier Insurance
AGM / EGMAt its AGM held on October 23, 2026, Shams Textile Mills Limited approved its audited financial statements for the year ended June 30, 2026, reappointed Riaz Ahmad & Company as auditors for FY2027, and approved a special resolution authorizing up to Rs. 2,956,270,000 investment in associated company Premier Insurance Limited through subscription to ordinary right shares at Rs. 10 each.
Key Findings
- The AGM was held on October 23, 2026.
- Shareholders approved the audited financial statements for the year ended June 30, 2026, together with the related reports.
- Riaz Ahmad & Company was reappointed as external auditor for the financial year ending June 30, 2027.
- A special resolution authorized an investment of up to Rs. 2,956,270,000 in Premier Insurance Limited by subscribing to ordinary right shares at Rs. 10 per share.
- The investment authorization concerns an associated company and represents a material capital allocation.
Meeting Details
Meeting
Annual general meeting
Date
Oct 23, 2026, 12:00 AM
Meeting Details
Agenda
- Approval of audited financial statements for the year ended June 30, 2026, with the Chairman Review Report, Directors' Report and Auditors' Report.
- Appointment of external auditors for the financial year ending June 30, 2027 and fixing their remuneration.
- Special resolution authorizing investment of up to Rs. 2,956,270,000 in Premier Insurance Limited through subscription to ordinary right shares at Rs. 10 per share.
Resolutions
- Approved and adopted the audited financial statements and accompanying reports for the year ended June 30, 2026.
- Reappointed M/s. Riaz Ahmad & Company, Chartered Accountants, as external auditors for the year ending June 30, 2027, to hold office until the next AGM, at remuneration recommended and approved by the Board.
- Authorized, under Section 199 and other applicable provisions of the Companies Act, 2017, a further equity investment of up to Rs. 2,956,270,000 in Premier Insurance Limited by subscription to ordinary right shares of Rs. 10 each, at an issue price of Rs. 10 per share.
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.