Lahore: Ittehad Chemicals Limited has announced its 35th Annual General Meeting (AGM), set to occur on October 28, 2026, at 11:00 a.m., at the company's registered office on Empress Road, Lahore. The meeting will address several key business items, including the confirmation of minutes from the Extraordinary General Meeting held on March 27, 2026, and the adoption of financial statements for the fiscal year ending June 30, 2026.
The agenda notably includes the approval of a final cash dividend of PKR 3.00 per share, which equates to a 30% dividend for shareholders. This final dividend is in addition to an interim dividend of PKR 1.00 per share, reflecting a 10% distribution already made for the year ending June 30, 2026. Shareholders will also be asked to appoint auditors for the 2026-27 financial year, with M/s BDO Ebrahim & Co., Chartered Accountants, offering themselves for reappointment.
A prominent item on the agenda is the ratification of transactions with related parties, as outlined in Note # 45 of the company's financial statements. Shareholders will consider a special resolution to authorize the Board of Directors to approve such transactions throughout the upcoming fiscal year.
Another significant proposal is the increase in investment into M/s Biostacks (Pvt.) Limited, an associated company. The AGM will seek approval to enhance the investment limit from PKR 1 billion to PKR 2 billion. This additional investment is intended to support Biostacks' working capital and operational requirements. The resolution also provides for the investment to be made in multiple tranches over a five-year period.
According to information available from the Pakistan Stock Exchange (PSX), Ittehad Chemicals Limited is classified under the chemical sector. The decisions made during this AGM could influence the company's financial trajectory, potentially impacting market perceptions and shareholder value.
The Board of Directors will be empowered to negotiate and finalize the terms of these investments, ensuring compliance with corporate, legal, and regulatory requirements. Additionally, key executives of the company will be authorized to file necessary documentation with the Securities and Exchange Commission of Pakistan (SECP) to implement these resolutions.
The AGM notice, along with the statement of material facts required under Section 134(3) of the Companies Act, 2017, has been dispatched to all shareholders, ensuring transparency and informed decision-making.