Loyal Textile Mills Limited has informed the Exchange about General Updates
LOYALTEX · price
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Loyal Textile Mills' Board met on August 12, 2025 and approved three key items. The 79th Annual General Meeting is scheduled for Friday, September 26, 2025 and will be held via video conferencing. The Board appointed Messrs. A. Mohan Kumar & Associates as Secretarial Auditors for a five-year term from FY 2025-26 to FY 2029-30, subject to shareholder approval at the AGM. Importantly, the Board also approved the sale of two manufacturing units — one at Menakur Village in Naidupeta (Andhra Pradesh) and another at Arasanur in Sivaganga (Tamil Nadu) — also subject to shareholder approval at the upcoming AGM. The Board meeting ran from 1:00 PM to 7:00 PM IST.
Shareholders will vote on both the sale of two production units and the appointment of the new Secretarial Auditor at the September 26 AGM. The proposed divestment of two manufacturing units could be material to the company's future operations and asset base, and investors should look out for further disclosures on valuation, deal terms and the use of sale proceeds in the run-up to the AGM.