Karachi: Shabbir Tiles and Ceramics Limited has announced the schedule for its 48th Annual General Meeting (AGM), set to take place on October 22, 2026, at 10:30 a.m. The meeting will be hosted at the Pearl-Continental Hotel in Karachi, specifically in Ballroom 1 & 2, located on Club Road, Civil Lines, Saddar Town. Additionally, participants will have the option to join through an electronic means or video-link facility.
The agenda for the AGM includes several items under ordinary business. Shareholders will be called upon to receive, consider, and adopt the Annual Audited Financial Statements of the Company for the year ending June 30, 2026. These statements, along with the Chairman's Review Report, Directors' and Auditors' report, have been made available online as per the requirements of section 223(7) of the Companies Act, 2017.
The meeting will also address the appointment of auditors for the upcoming fiscal year ending June 30, 2027. The current auditors, M/s. A. F. Ferguson & Co., Chartered Accountants, have expressed their willingness to continue, and the Board of Directors has recommended their re-appointment. Furthermore, any additional business will be considered with the permission of the Chair.
In addition to the ordinary business, a special resolution is on the agenda. The resolution proposes an amendment to Article 92 of the Company's Articles of Association regarding the remuneration of Directors. The proposed change seeks to increase the remuneration from "not exceeding Rs. 100,000" to "not exceeding Rs. 200,000" for each meeting attended by a director. The Chairman's remuneration is proposed to be increased to a sum "not exceeding Rs. 250,000" per meeting. The Company Secretary is authorized to take necessary actions to implement this amendment.
According to information available from the Pakistan Stock Exchange (PSX), Shabbir Tiles and Ceramics Limited is a listed entity within the designated market category. This announcement is considered significant for investors and stakeholders, reflecting the company's ongoing governance practices and financial oversight.