Prosperity Weaving Mills : Transmission of Annual Report for the Year Ended 30-06-2022

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

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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 # [phone]
	Fax # [phone]
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

1. To confirm minutes of the Annual General Meeting held on October 28, 2021.
2. 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.
3. 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.
4. To appoint Auditors for the year ending on June 30, 2023 and fix their remuneration.

SPECIAL BUSINESS

1. 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:

1. "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''
2. "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.''

1. 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

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ANNUAL REPORT 2022

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NOTES:

1. 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).
2. 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.
3. 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.
4. 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.
5. 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:
6. 1. Mobile/WhatsApp: [phone]
   2. E-mail:[e-mail]

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.

1. 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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