Lahore: Treet Battery Limited has announced the upcoming Annual General Meeting (AGM) scheduled for October 27, 2026, at 10:30 a.m., to be held at the company's registered office in Lahore. The meeting will address several significant agenda items, including the confirmation of minutes from a previous meeting, the adoption of financial statements, and the appointment of external auditors for the financial year ending June 30, 2027. The agenda also includes special resolutions to increase the company's authorized capital and amend its Memorandum of Association.
The company has indicated that the share transfer books will be closed from October 21, 2026, to October 27, 2026, with transfers processed by the close of business on October 20, 2026, being eligible for the AGM.
A key agenda item involves a proposed increase in the authorized capital from Rs. 11 billion to Rs. 13 billion, involving an additional 200 million ordinary shares. This resolution aims to enhance the company's financial flexibility and support future growth initiatives. Additionally, the AGM will consider converting a loan of Rs. 2 billion from Treet Corporation Limited into equity, further reinforcing the company's capital structure.
According to information available from the Pakistan Stock Exchange (PSX), the financial maneuvers proposed by Treet Battery Limited are part of a strategic effort to bolster its market position and ensure sustainable development. This corporate action is essential for addressing the company's capital requirements in the face of evolving market dynamics within the designated market category.
The meeting will also address the appointment of M/s BDO Ebrahim & Co. Chartered Accountants as external auditors and the consideration of any potential amendments to the proposed resolutions as suggested by shareholders or regulatory authorities. The company emphasizes that any approved resolutions will be implemented following necessary consents and regulatory approvals, ensuring compliance with all applicable legal frameworks.
Overall, Treet Battery Limited's AGM represents a significant milestone in its strategic planning, with the proposed actions reflecting its commitment to enhancing shareholder value and maintaining robust corporate governance.