Karachi: Trust Securities & Brokerage Ltd. (TSBL) has announced several strategic initiatives during its 33rd Annual General Meeting (AGM), held on October 26, 2026, at the Business & Finance Centre on I.I. Chundrigar Road. The meeting, which commenced at 3:30 p.m., covered both ordinary and special business items, reflecting the company's forward-looking approach towards business expansion and compliance with regulatory frameworks.
During the AGM, the minutes of the Extraordinary General Meeting held on April 1, 2026, were confirmed. The company's audited financial statements for the year ending June 30, 2026, were received and adopted, alongside the reports from the directors and auditors. The appointment of auditors for the financial year ending June 30, 2027, was also confirmed.
A significant proposal was the increase of the company's authorized share capital from Rs. 750 million to Rs. 1 billion, which was approved by the shareholders. The adjustment to the authorized capital, split into 1 billion ordinary shares of Re. 1 each, necessitated amendments in the Memorandum and Articles of Association to align with the Companies Act, 2017.
In a move to diversify its service offerings, TSBL sought approval for applying for a No-Objection Certificate (NOC) as a Virtual Asset Service Provider (VASP) from the Pakistan Virtual Assets Regulatory Authority (PVARA). The company plans to engage in virtual asset services, including broker-dealer services, custody, exchange, and token issuance services, contingent upon securing the necessary regulatory approvals.
Moreover, the AGM approved the establishment of Special Purpose Acquisition Companies (SPACs), with TSBL acting as a promoter or sponsor. The SPACs will be formed as public limited companies to raise funds through public offerings, aimed at facilitating mergers or acquisitions within the regulatory guidelines set by the Securities and Exchange Commission of Pakistan (SECP) and Public Offering Regulations, 2017.
According to information available from the Pakistan Stock Exchange (PSX), these initiatives reflect TSBL's strategic intent to enhance its market position and explore innovative financial instruments in compliance with evolving regulations.
The company's Board of Directors has been authorized to finalize the terms and structures of these ventures, ensuring adherence to applicable laws and regulatory approvals. The Chief Executive Officer and Company Secretary have been empowered to execute necessary documentation and liaise with relevant authorities to realize these strategic objectives.