Karachi: Arif Habib Limited has announced the resolutions approved during its 22nd Annual General Meeting, held on September 25, 2026, at the PSX Auditorium and via zoom video conferencing. The company submitted certified copies of these resolutions to comply with clause 5.6.9 (b) of the Pakistan Stock Exchange (PSX) Rule Book.
The meeting, which took place at 10:00 a.m., ratified the minutes from the previous Annual General Meeting held on October 21, 2025. The Chairman has been authorized to sign off on these minutes as a confirmation of their approval.
Significant decisions included the endorsement of the annual audited unconsolidated and consolidated financial statements for the fiscal year ending June 30, 2026. These statements, along with the Directors' and Auditors' Reports, received approval and adoption by the attendees.
A final dividend of Rs. 12.50 per share, representing a 125% payout for the year ended June 30, 2026, was ratified as recommended by the Board of Directors. Additionally, M/s. Rahman Sarfaraz Rahim Iqbal Rafiq, Chartered Accountants, were reappointed as external auditors for the year ending June 30, 2027, with the authority granted to the Chief Executive and Company Secretary to determine their remuneration.
A significant decision under special business was the approval for the potential sale or liquidation of the company's wholly-owned subsidiary, Rayaan Commodities (Private) Limited. The resolution granted the Board of Directors the authority to negotiate and finalize the transaction, which will be disclosed at the Pakistan Stock Exchange if executed before the next AGM, in accordance with legal and regulatory requirements.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions are pivotal for the company's strategic direction and compliance with regulatory standards.
The meeting concluded with assurances that the minutes of the Annual General Meeting will be submitted to the Exchange within the stipulated timeframe, ensuring transparency and adherence to PSX regulations.