Lahore: Mughal Iron & Steel Industries Limited has announced the convening of its 17th Annual General Meeting, which is set to take place on Wednesday, October 28, 2026, at 11:45 a.m. The meeting will be held at Avari Hotel, 87-Shahrah-e-Quaid-e-Azam, Lahore, with provisions for attendance via electronic means.

The agenda for the meeting includes the consideration and adoption of the audited financial statements for the fiscal year ending June 30, 2026. These reports include the Directors' and Auditors' Reports as well as the Chairman's Review Report. Additionally, the meeting will address the re-appointment of M/s. Fazal Mahmood & Company and M/s. Muniff Ziauddin & Company as joint external auditors for the company.

A proposed final cash dividend of 20%, equivalent to Rs. 2.00 per ordinary and ordinary class-C share, will also be considered. It is noted that no interim dividend was paid during the year. According to information available from the Pakistan Stock Exchange (PSX), this meeting is categorized under the Financials sector.

Special business on the agenda includes the approval of a Rs. 500.00 million advance/ running finance facility and a Rs. 3,000.00 million corporate guarantee finance facility for Mughal Energy Limited, a subsidiary company. These proposals will require the passing of special resolutions as stipulated under section 134 (3) of the Companies Act, 2017.

Furthermore, shareholders will deliberate on amendments to the Memorandum and Articles of Association to increase the company's authorized capital. The issuance of Ordinary Class-B shares and ratification of transactions with related parties are also scheduled for discussion through special resolutions.

The meeting is expected to address and ratify significant financial and structural decisions, which will be crucial for the company's strategic growth and operations.