Karachi: Arif Habib Corporation Limited has announced its Thirty Second Annual General Meeting (AGM) scheduled for Wednesday, October 28, 2026. The meeting will convene at 12:00 p.m. at the PSX Auditorium, Stock Exchange Building, Stock Exchange Road, Karachi. This gathering aims to address key business agendas essential for the company's operations and governance.
During the AGM, shareholders will confirm the minutes from the Extra Ordinary General Meeting held on April 10, 2026. The session will also focus on receiving and adopting the annual audited financial statements of the company, including the directors' and auditors' reports for the fiscal year that ended on June 30, 2026. The meeting will additionally feature the appointment of auditors for the year concluding June 30, 2027, with the Board recommending the reappointment of M/s. A. F. Ferguson & Co., Chartered Accountants.
A notable item on the agenda is the proposal to approve a final cash dividend of 125% of the face value of Re.1/- per share, equating to Rs.1.25 per share, as endorsed by the Board of Directors. Shareholders will also deliberate on transactions with related parties and authorize the board to approve necessary dealings for the upcoming fiscal year, all in compliance with the Companies Act, 2017.
According to information available from the Pakistan Stock Exchange (PSX), the meeting will also consider investment renewals for associated companies and undertakings. Notably, unutilized equity investment limits include Rs. 500 million for Javedan Corporation Limited, Rs. 33,684 million for PIA Equity Limited, and Rs. 11,567 million for the REIT Schemes managed by Arif Habib Dolmen REIT Management Limited. These renewals are crucial for the ongoing financial strategies and commitments of the corporation.
The company will further seek shareholder consent under Section 199 of the Companies Act, 2017, to extend these investment limits, ensuring the flexibility to utilize funds in equity, loans, guarantees, and other financial instruments. Additionally, the resolutions empower the Chief Executive and select directors to execute necessary actions to implement these financial strategies effectively.
The AGM will conclude with an open forum for any other business, permitting discussions beyond the structured agenda with the Chair's consent. This inclusive approach reflects the company's commitment to transparency and shareholder engagement in its corporate governance practices.