⚡ Flash Summary
Hamid Textile Mills Limited has announced the upcoming election of its directors at the 38th Annual General Meeting scheduled for October 25, 2025. The announcement complies with Section 159(4) of the Companies Act, 2017, and lists the names of seven candidates who have consented to contest the election. Since the number of candidates equals the number of board seats, all seven are deemed elected for the next three-year term. The notice will be published in ‘The Nation’ and ‘Nawaiwaqat’ newspapers and on the company’s website.
📌 Key Takeaways
- 📅 Election of Directors announced for the 38th AGM on October 25, 2025.
- 📜 Announcement complies with Section 159(4) of the Companies Act, 2017.
- 👤 Seven candidates are contesting for director positions.
- ✅ All candidates are deemed elected as the number of contestants equals the board seats.
- 🗓️ Directors will serve for a term of three years.
- 📰 Notice to be published in ‘The Nation’ and ‘Nawaiwaqat’ newspapers on October 18, 2025.
- 🌐 Notice will also be uploaded to the company’s website.
- 🏢 AGM to be held at the registered office in Model Town, Lahore.
- ⏰ AGM scheduled for 12:00 pm.
- ✉️ Notice sent to Pakistan Stock Exchange Limited.
- 📍 Registered office located at 142-D Block D Model Town Lahore-Pakistan.
- 📞 Contact numbers: +92-42-35868929,35869321,35889431.
- 📧 Email addresses for inquiries: sales@hamid-textile.com, accounts@hamid-textile.com, hamidtextile@yahoo.com.
🎯 Investment Thesis
Based solely on the announcement of the election of directors, a HOLD recommendation is appropriate. The announcement itself does not provide sufficient information to justify a BUY or SELL decision. A thorough analysis of Hamid Textile Mills’ financial performance, industry dynamics, and competitive positioning is needed to form a comprehensive investment thesis. Without this information, it is prudent to maintain a neutral stance.
Disclaimer: AI-generated analysis. Not financial advice.