PROSPERITY WEAVING MILLS LTD.
NAGINA
NAGINA GROUP | |
CONTENTS | |
Company Information | 2 |
Notice of Annual General Meeting | 3 |
Vision and Mission Statement | 8 |
Chairman Review Report | 15 |
Directors' Report to the Members | 12 |
Statement of Compliance with Listed Companies | 23 |
(Code of Corporate Governance) Regulations, 2019 | |
Shareholders' Information | 25 |
Pattern of Shareholding | 28 |
Key Financial Information | 30 |
Independent Auditors' Review Report to the Members on the Statement of Compliance | 31 |
contained in listed companies (Code of Corporate Governance) Regulations, 2019 | |
Independent Auditors' Report to the Members | 32 |
Statement of Financial Position | 36 |
Statement of Profit or Loss and Other Comprehensive Income | 38 |
Statement of Cash Flows | 39 |
Statement of Changes in Equity | 40 |
Notes to the Financial Statements | 41 |
Form of Proxy | 77 |
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ANNUAL REPORT 2022
COMPANY INFORMATION
NAGINA
NAGINA GROUP
BOARD OF DIRECTORS | Mr. Shahzada Ellahi Shaikh | Non-Executive Director / Chairman |
Ms. Parveen Akhter Malik | Independent Non-Executive Director | |
Mr. Arfa Waheed Malik | Independent Non-Executive Director | |
Mr. Aneeq Khawar | Independent Non-Executive Director | |
Mr. Javaid Bashir Sheikh | Non-Executive Director | |
Mr. Shaukat Ellahi Shaikh | Non-Executive Director | |
Mr. Shafqat Ellahi Shaikh | Non-Executive Director | |
Mr. Amin Ellahi Shaikh | Non-Executive Director | |
Mr. Haroon Shahzada Ellahi Shaikh | Non-Executive Director | |
Mr. Raza Ellahi Shaikh | Executive Director | |
MANAGING DIRECTOR (Chief Executive) Mr. Raza Ellahi Shaikh | ||
AUDIT COMMITTEE | Ms. Parveen Akhter Malik | Chairperson |
Mr. Amin Ellahi Shaikh | Member | |
Mr. Haroon Shahzada Ellahi Shaikh | Member | |
Mr. Syed Mohsin Gilani | Secretary | |
HUMAN RESOURCE & | Ms. Parveen Akhter Malik | Chairperson |
REMUNERATION (HR & R) | Mr. Raza Ellahi Shaikh | Member |
COMMITTEE | Mr. Amin Ellahi Shaikh | Member |
Mr. Muhammad Azam | Secretary | |
EXECUTIVE COMMITTEE | Mr. Raza Ellahi Shaikh | Chairman |
Mr. Shahzada Ellahi Shaikh | Member | |
Mr. Amin Ellahi Shaikh | Member | |
Mr. Haroon Shahzada Ellahi Shaikh | Member | |
Mr. Muhammad Azam | Secretary | |
CORPORATE SECRETARY | Mr. Syed Mohsin Gilani | |
CHIEF FINANCIAL OFFICER (CFO) | Mr. Muhammad Tariq Sheikh | |
HEAD OF INTERNAL AUDIT | Mr. Kashif Saleem | |
AUDITORS | Messrs Yousuf Adil. | |
Chartered Accountants | ||
CORPORATE ADVISORS | Bandial & Associates | |
LEAD BANKERS | Allied Bank Ltd. | |
Askari Bank Ltd. | ||
Bank Alfalah Ltd. | ||
Habib Bank Ltd. | ||
Meezan Bank Ltd. | ||
MCB Bank Ltd. | ||
National Bank of Pakistan | ||
Soneri Bank Limited | ||
United Bank Ltd. | ||
REGISTERED OFFICE | Nagina House, | |
91-B-1,M.M. Alam Road, | ||
Gulberg-III,Lahore-54660 | ||
REGIONAL OFFICE | 2nd Floor, Shaikh Sultan Trust Bldg. No. 2, 26-Civil Lines, | |
Beaumont Road, Karachi - 75530 | ||
WEB REFERENCE | www.nagina.com | |
SHARES REGISTRAR | M/s Hameed Majeed Associates (Pvt.) Ltd. | |
1st Floor, H.M. House 7-Bank Square, Lahore | ||
Phone # 042-37235081-2 | ||
Fax # 042-37358817 | ||
MILLS | 13.5 K.M | |
Sheikhupura Sharaqpur Road, Sheikhupura |
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PROSPERITY WEAVING MILLS LTD.
NAGINA
NAGINA GROUP
NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the 31st Annual General Meeting of members of PROSPERITY WEAVING MILLS LTD. will be held at the Registered Office of the Company situated at Nagina House, 91-B-1, M.M. Alam Road, Gulberg-III,Lahore-54660 on Thursday, October 27, 2022 at 11:00 a.m to transact the following business:-
ORDINARY BUSINESS
- To confirm minutes of the Annual General Meeting held on October 28, 2021.
- To receive, consider and adopt Audited Financial statement of the Company together with the Chairman's Review Report, Directors' and Auditors' reports thereon for the year ended June 30, 2022.
- To approve and declare final cash dividend at Rs.5/- per share i.e.50% for the year ended June 30, 2022, as recommended by the Board of Directors.
- To appoint Auditors for the year ending on June 30, 2023 and fix their remuneration.
SPECIAL BUSINESS
- To ratify and approve transactions conducted with Related Parties for the year ended June 30, 2022 and authorize the Board of Directors of the Company to approve transactions with related parties by passing the following special resolutions with or without modifications:
- "RESOLVED that the transactions conducted with Related Parties as disclosed in Note 39 & 39.1 of the financial statements for the year ended June 30, 2022 be and are hereby ratified, approved and confirmed''
- "FURTHER RESOLVED that the Board of Directors of the Company be and is authorized to approve all related party transactions to be carried out during the financial year 2023. These transactions shall be deemed to have been approved by the shareholders and shall be placed before the shareholders in the next AGM for their formal ratification/approval.''
- To transact any other ordinary business with the permission of the Chair.
Statements under Section 134 (3) pertaining to the special business of the Companies Act, 2017 and under the Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017 are annexed.
By Order of the Board
Syed Mohsin Gilani | |
Lahore: September 28, 2022 | Corporate Secretary |
3
ANNUAL REPORT 2022
NAGINA
NAGINA GROUP
NOTES:
- The share transfer books for ordinary shares of the Company will be closed from Friday, October 21, 2022 to Thursday, October 27, 2022 (both days inclusive). Valid transfer(s) received in order by our Share Registrar, M/s Hameed Majeed Associates (Pvt.) Limited, 1st Floor, H.M. House, 7- Bank Square, Lahore by the close of business on Thursday, October 20, 2022 will be in time to be passed for payment of dividend to the transferee(s).
- A member entitled to attend and vote at the General Meeting is entitled to appoint another member as proxy. Proxies, in order to be effective, must be received at the Company's registered office not less than forty-eight (48) hours before the time of meeting. Members through CDC appointing proxies must attach attested copy of their Computerized National Identity Card (CNIC) with the proxy form.
- The shareholders through CDC, who wish to attend the Annual General Meeting are requested to please bring, original CNIC with copy thereof duly attested by their bankers, account number and participant I.D number for identification purpose.
- In case of corporate entity, certified copy of the Board of Directors' resolution / power of attorney with specimen signature shall be submitted (unless it has been provided earlier) along with proxy form of the Company.
- Shareholders interested in attending the AGM either physically or through Zoom application are hereby requested to get themselves registered with the Company Secretary office by providing the following details at the earliest but not later than 48 hours before the time of AGM through following means:
- Mobile/WhatsApp: 0333-4524559
- E-mail:prosperity-agm22@nagina.com
Shareholders are advised to mention Name, CNIC Number, Folio/CDC Account Number, cell number and email ID for identification. Member wishing to attend in person must also provide a copy of their vaccination certificates at the above e-mail address. Upon receipt of the above information from the interested shareholders, the Company will send the login credentials at their e-mail address. On the date of AGM, shareholders will be able to login and participate in the AGM proceedings through their smartphone/computer devices. In view of the above, the Shareholders can also provide their comments/suggestions for the proposed agenda items of the AGM by using the aforesaid means.
The Company reserves the right to refuse entry to any member who has not pre-registered for physical attendance or is not carrying their vaccination card with them. These measures are necessary to ensure the safety and the health of all present.
- In accordance with the provisions of Section 242 of the Companies Act, 2017 and Companies (Distribution of Dividends) Regulation 2017, it is mandatory for a listed company to pay cash dividend to its shareholders only through electronic mode directly into their bank account designated by the entitled shareholders instead of issuing physical dividend warrants. Therefore, shareholders are requested to provide the particulars relating to name, folio number, bank account number, IBAN Number, title of account and complete mailing address of the bank directly to the Company's Share Registrar in case of physical shareholders and directly to the relevant Participant / CDC Investor Account Service in case of maintaining shareholding under Central Depository System (CDS).
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Prosperity Weaving Mills Ltd. published this content on 05 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2022 05:11:04 UTC.