Lahore: Hi-Tech Lubricants Limited has announced that its 18th Annual General Meeting (AGM) will be held on October 27, 2026, at 11:00 a.m. The meeting will take place at the Jinnah Auditorium of the Lahore Chamber of Commerce and Industry, with an option for shareholders to attend via an electronic video link through the Zoom application. The focus of the meeting will be to deliberate on several ordinary and special business resolutions.
The agenda for the AGM includes receiving and adopting the company's annual audited financial statements for the fiscal year ending June 30, 2026. Shareholders will also consider approving a final cash dividend of PKR 1.15 per share, which equates to 11.5%, as recommended by the Board of Directors on September 18, 2026.
In addition to the financial statements, the meeting will address the appointment of auditors for the financial year 2026-27. M/s Riaz Ahmad & Co., Chartered Accountants, who have completed their term, will seek reappointment.
Special business resolutions will also be discussed. These include ratifying transactions with the associated undertaking Sabra Hamida Trust (SHT) for the fiscal year ending June 30, 2026, amounting to PKR 18 million in donations under the company's CSR policy. Furthermore, the Board of Directors will be authorized to approve related party transactions with SHT for the upcoming fiscal year, with a cap of PKR 30 million.
The meeting will also consider transactions with the wholly owned subsidiary, Hi-Tech Blending (Private) Limited (HTBL). The transactions, which include the purchase and sale of lubricants and petroleum products, amount to significant figures such as PKR 6.95 billion for lubricant purchases and PKR 19.34 million for petroleum products. Lease rental payments to HTBL totaled PKR 3 million. According to information available from the Pakistan Stock Exchange (PSX), these financial activities reflect the company's ongoing business operations.
Shareholders will further authorize the Board to approve all transactions with HTBL for the financial year ending June 30, 2027, ensuring alignment with corporate governance practices.
The AGM will conclude with the opportunity to address any other business matters with the Chair's permission.