ANNUAL REPORT 2022

Reliance Cotton Spinning

Mills Limited

CONTENTS

Company Information

Directors' Profile

Vision and Mission

Notice of Annual General Meeting

Review Report by Chairman

Directors' Report

Independent Auditor's Review Report on Code of Corporate Governance

Statement of Compliance with Code of Corporate Governance

Six Years at a Glance and Financial Highlights

Unconsolidated Financial Statements

Consolidated Financial Statements

Pattern of Shareholding

Jama Punji

Proxy Form

02

04

08

10

14

18

31

32

35

45

93

144

148

149

DIRECTORS'

PROFILE

4 Reliance Cotton Spinning Mills Limited

MR. SHAHID ABDULLAH

Chairman

Mr. Shahid Abdullah has been associated with Sapphire Group since 1980. Being a director of various companies of Sapphire Group, he has to plan and forecast for both long and short-term positions. He introduced new lines in the textile business like knitting, cone dyeing, fabric dyeing and finishing. He has achieved considerable experience of spinning, weaving, knitting, dyeing, finishing and power generation. He has experience and is competent in business dealings, especially for procurement of plant and machinery, raw material and other assets. He is well-versed in sales promotion and has successfully created goodwill for Sapphire products in local as well as in export markets. He holds a bachelor's degree in commerce from University of Karachi. He is serving as Chief Executive Officer of Sapphire Fibres Limited and Sapphire Electric Company Limited.

MR. SHAYAN ABDULLAH

Chief Executive

Mr. Shayan Abdullah has been the Chief Executive Officer of Reliance Cotton Spinning Mills Limited for the last 11 years. He has done Bachelor of Science in Business Management with concentration in Economics and Finance from USA. Additionally he has undertaken various professional courses from universities such as London School of Economics and Lahore University of Management Sciences. Before getting appointed as a director with Sapphire Fibres Limited, Mr. Shayan has worked at Executive levels with other Group Companies. He oversees raw material procurement, accounts and marketing for spinning divisions of Sapphire Fibres Limited and Amer Cotton Mills Limited.

Annual Report 2022 5

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Sapphire Fibres 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 05:31:05 UTC.