Lahore: Fast Cables Limited (FCL) has announced its 18th Annual General Meeting (AGM), scheduled to take place on October 22, 2026, at 11:00 a.m. This significant event for the company will occur at its Manufacturing Unit located at Ijtama Chowk, Sundar Link Road, Raiwind Lahore, with an additional option for shareholders to participate via video conferencing.
The meeting agenda includes routine and special business items, starting with the confirmation of minutes from the 17th AGM held on October 27, 2025. Shareholders will also deliberate on the adoption of the Annual Audited Financial Statements for the fiscal year ending June 30, 2026, accompanied by reports from the Directors, Chairman, and Auditors.
A key item under consideration is the approval of a final cash dividend of 15%, translating to Rs. 1.50 per share, as recommended by the Board of Directors. The appointment of M/s Crowe Hussain Chaudhary and Company as external auditors for the fiscal year ending June 30, 2027, will also be discussed, following the Audit Committee's recommendation.
Special resolutions include ratifying related party transactions and authorizing the Chief Executive and Chief Financial Officer to approve further transactions with related parties until June 30, 2027. Another resolution pertains to the disposal of a company building on leasehold land in Lahore to Director Mian Ghulam Murtaza Shaukat, with a sale consideration of no less than PKR 300 million.
The agenda also includes the proposed utilization of surplus Initial Public Offering (IPO) proceeds. Specifically, PKR 747.763 million from a total IPO of PKR 3.130 billion raised in 2024, along with an earned return of Rs 328.976 million, is recommended for allocation towards working capital requirements. According to information available from the Pakistan Stock Exchange (PSX), these financial decisions are set to be pivotal for the company's strategic financial management.
The company emphasizes that all necessary approvals and consents must be obtained for these resolutions and that the Board of Directors has recommended shareholders accord their consent during the AGM. Additionally, any other business brought forward with the chair's approval will be addressed during the meeting.
Fast Cables Limited operates within the Pakistani market, with its designated market category being the electrical and electronics sector. The decisions made in this AGM are anticipated to have a considerable impact on the company's operational and financial strategies in the coming year.