Lahore: Shareholders of LSE SPAC-II Limited convened for their Annual General Meeting on September 19, 2026, at the company's registered office, passing several key resolutions that align with the strategic objectives of the company. The meeting was held in accordance with the clause 5.6.9 (b) of the Rule Book of Pakistan Stock Exchange Limited.
During the ordinary business session, shareholders unanimously approved the Annual Audited Financial Statements for the financial year ending June 30, 2026. This approval was granted alongside the Directors' and Auditors' Reports, confirming the financial health and compliance of the company. Furthermore, M/s. Ilyas Saeed & Co., Chartered Accountants, were appointed as the External Auditors for the subsequent financial year ending June 30, 2027, with remuneration fixed at the same level as the previous auditors.
The shareholders also addressed special business, notably electing seven directors to serve a three-year term until 2029. These directors include Syed Haider Mujtaba and Ms. Arooj Tariq as Independent Directors, as well as Syeda Noor ul Ain Ali, Ms. Qurat ul Ain Ali, Mr. Aoun Muhammad, Mr. Zia Ullah, and Mr. Iqrar Shabbir as Non-Executive Directors.
A significant resolution regarding investment was also passed, permitting the company to invest in the equity shares of M.P. Industries Limited. This strategic investment will enable LSE SPAC-II Limited to acquire 15% of M.P. Industries Limited’s post-issued paid-up share capital, subject to necessary regulatory approvals. According to information available from the Pakistan Stock Exchange (PSX), this move reflects the company's commitment to expanding its investment portfolio in compliance with the Companies Act, 2017, and Public Offering Regulations, 2017.
The Chief Executive Officer has been authorized to negotiate and execute necessary agreements to facilitate this investment. Additionally, the CEO is empowered to make required amendments to the resolution or related agreements, contingent on directives from relevant authorities, without seeking further member approval, provided such changes remain consistent with the resolution's original intent.
This series of resolutions highlights LSE SPAC-II Limited’s proactive approach to governance and strategic growth, reinforcing its position within the market.