Karachi: Thal Limited has scheduled its 58th Annual General Meeting (AGM) for October 24, 2024, which will be held in Karachi and accessible through electronic means. The notice, confirmed prior to its publication on October 3, 2024, details several significant agenda items for shareholder consideration.

The primary order of business will include the adoption of the annual audited financial statements for the fiscal year ended June 30, 2024, alongside the Chairman's Review, and reports from the Directors and Auditors. According to information available from the Pakistan Stock Exchange (PSX), these documents are already accessible via the company's website.

Moreover, shareholders will vote on a proposed final cash dividend of 120% (Rs. 6.00 per share), culminating in a total dividend of 160% for the fiscal year 2023-24 when combined with the previously distributed interim dividend of 40% (Rs. 2.00 per share).

In addition to routine AGM matters, the meeting will cover special business concerning the company’s future investment strategies. Thal Limited plans to increase its stake in Sindh Engro Coal Mining Company Limited (SECMC) by acquiring up to 30.6 million shares from Habib Bank Limited, equivalent to approximately 1.90% of SECMC’s issued and paid-up capital. This move is part of a broader strategy to maintain its position as a major private sector shareholder in SECMC, potentially raising its total shareholding to 13.80%.

Should opportunities arise, Thal Limited is also prepared to purchase an additional approximately 76.5 million shares, increasing its stake to a maximum of 16.65%. The proposed total investment could reach as high as PKR 2.70 billion, affirming the company's ambitious expansion in the energy sector.