Karachi: Macter International Limited, a company listed on the Pakistan Stock Exchange, has scheduled its Annual General Meeting (AGM) for October 28, 2026, at 1:30 p.m. The meeting will take place at Nexus #3, Ribat-The Campus, Alamgir Road, Delhi Mercantile Society, Karachi.
The agenda for the AGM is comprehensive, beginning with the presentation of the audited consolidated and unconsolidated financial statements for the fiscal year ending June 30, 2026. Shareholders will review these financial documents alongside the accompanying reports from the company's directors and auditors.
A significant item on the agenda is the appointment of auditors for the upcoming fiscal year ending June 30, 2027. The current auditors, M/s. A. F. Ferguson & Co., Chartered Accountants, are retiring but have expressed willingness to continue. The Board of Directors, following a recommendation from the Board Audit Committee, has proposed the reappointment of M/s. A. F. Ferguson & Co. for an additional term.
The election of nine directors in accordance with Section 159 of the Companies Act, 2017, is also slated for discussion. The current directors up for re-election include Mr. Amanullah Kassim, Mr. Asif Misbah, Mr. Swaleh Misbah Khan, Sheikh Muhammed Waseem, Sheikh Perwez Ahmed, Sheikh Abdus Sami, Mr. Jawwad Ahmed Farid, Mr. Muhammad Ather Sultan, and Mrs. Masarrat Misbah.
In addition to routine business, the AGM will address a special resolution concerning the subdivision of the company's share capital. The proposal suggests altering the face value of each ordinary share from Rs. 10 to Rs. 2, effectively increasing the number of shares from 65 million to 325 million, while maintaining the total share capital at Rs. 650 million. This move is intended to enhance the liquidity and accessibility of the company's shares.
According to information available from the Pakistan Stock Exchange (PSX), the restructure will also adjust the issued, subscribed, and paid-up share capital from 45.81 million shares of Rs. 10 each to 229.06 million shares of Rs. 2 each, without altering the aggregate amount of share capital.
The resolution further authorizes the CEO, any Director, or the Company Secretary to undertake necessary actions to implement these changes, including filings with the Securities and Exchange Commission of Pakistan, PSX, Central Depository Company of Pakistan Limited, and other relevant authorities.
Shareholders and stakeholders are encouraged to attend the AGM to participate in these pivotal decisions shaping the future of Macter International Limited.