⚡ Flash Summary
Sally Textile Mills Limited (SLYT) announced the adoption of resolutions at its Annual General Meeting (AGM) for the year ended June 30, 2025. The resolutions include the adoption of audited financial statements and the appointment of H.A.M.D & Co. as auditors for the year ending June 30, 2026. The company acknowledged a delay in submitting the resolutions due to internal oversight and staff shortage, assuring corrective measures. The resolutions were unanimously adopted by shareholders and are in compliance with regulatory requirements.
📌 Key Takeaways
- ✅ AGM held on October 23, 2025, at 2-S, Gulberg-II, Lahore.
- 📑 Audited Financial Statements for the year ended June 30, 2025, were adopted.
- 🌐 Financial statements are available on the company’s website (www.sallytextile.com).
- 👨💼 H.A.M.D & Co. appointed as auditors for the year ending June 30, 2026.
- 💰 Auditor remuneration to be fixed by the Board of Directors.
- 📝 Resolutions unanimously adopted by the shareholders.
- 📅 Resolutions submitted to PSX in compliance with Regulation 5.6.9(b).
- ⚠️ Delay in submission due to internal administrative oversight and staff shortage.
- 🛠️ Corrective measures taken to ensure timely compliance in the future.
- 📜 Reference to letter No. PSX/Gen-1979 dated November 05, 2025.
- 🏢 Company address: 2-S, Gulberg-II, Lahore.
- 📞 Phone: 92-42-35759002, Email: sallytex@hotmail.com
🎯 Investment Thesis
HOLD. The announcement itself provides insufficient data to make a definitive buy or sell recommendation. While the adoption of resolutions and appointment of auditors are standard corporate governance procedures, the acknowledged delay in submission raises concerns about operational efficiency. A deeper review of the company’s financial statements, operational performance, and management’s remediation efforts is necessary before considering a change in recommendation. Price target is dependent upon financials, which were unavailable.
Disclaimer: AI-generated analysis. Not financial advice.