Islamabad: Bestway Cement Limited has issued a notice for its 33rd Annual General Meeting (AGM) slated for August 31, 2026, at 3:00 p.m. The meeting will be hosted at Hotel Hill View, located in Block 12-A, F-7 Markaz, Jinnah Super, Islamabad.
The AGM agenda includes the adoption of the Annual Audited Financial Statements for the fiscal year ending June 30, 2026, along with Directors' and Auditors' Reports. Shareholders will also vote on the approval of a final cash dividend of 100%, in addition to an interim dividend of 300% already disbursed for the same period, as endorsed by the Board of Directors.
The election of eight directors, as determined by the Board, will also take place for a three-year term pursuant to Section 159 of the Companies Act, 2017. The retiring directors—Sir Mohammed Anwar Pervez, Lord Zameer Mohammed Choudrey, Mr. Muhammad Irfan Anwar Sheikh, Mr. Dawood Pervez, Honorable Haider Zameer Choudrey, Ms. Fauzia Ahmad, Mr. Tariq Rashid, and Syed Asif Shah—are eligible for re-election.
The company will appoint auditors for the year ending June 30, 2027, with M/s A. F. Ferguson & Co. consenting to continue in their role, as recommended by the Board.
Among the special business to be addressed is the consideration of a resolution authorizing Bestway Cement Limited to accept or decline an offer of Right Shares from its subsidiary, Bestway Automotive (Private) Limited. The resolution also empowers the Company Secretary to execute necessary actions and documentation to facilitate the resolution.
According to information available from the Pakistan Stock Exchange (PSX), the approved total investment for Bestway Cement's associated undertaking amounts to PKR 10 billion, with PKR 4 billion allocated as equity and PKR 6 billion as debt. As of now, investments totaling PKR 4,290.04 million have been made, including PKR 100,000 in equity and PKR 4,289.94 million in debt.
The resolution passed on October 13, 2025, allows for a five-year investment period, and there have been no deviations from the approved timeline. Bestway Automotive Limited (BAL), being in its first year of incorporation, has not experienced any material changes in its financial statements since the resolution's approval.
Directors of Bestway Cement Limited have affirmed no interest in the special business beyond their shareholding in the Company. All directors of BAL are nominees of Bestway Cement Limited.