Lahore: Media Times Limited (MTL) has officially announced its 26th Annual General Meeting (AGM), scheduled for October 28, 2026. The meeting will commence at 11:15 a.m. at the company's registered office located at First Capital House, M.M. Alam Road, Gulberg-III, Lahore.
The agenda for the AGM includes the confirmation of the minutes from the Extraordinary General Meeting held on June 26, 2026. Shareholders will also receive, consider, and adopt the audited financial statements for the fiscal year ending on June 30, 2026. This will be presented alongside the Chairman's Review, Directors' and Auditors' reports.
Additionally, the appointment of auditors for the financial year ending June 30, 2027, will be discussed, with the aim to fix their remuneration.
On the special business front, shareholders will deliberate on amending the Articles of Association to include provisions for an Employee Stock Option Scheme (ESOS). The scheme, established under Section 83A of the Companies Act, 2017, and in accordance with Chapter VI of the Companies (Further issue of Shares) Regulations, 2020, aims to reward employees, including executive directors and officers, by granting them the opportunity to acquire company shares.
The meeting will also address the proposed issuance of 91.44 million ordinary shares to Sisley Group Company Limited. These shares, priced at Rs. 9.00 each, reflect a 10% discount and stem from the conversion of a long-term loan.
Furthermore, the AGM will consider a resolution to increase the company's authorized capital from Rs. 2.10 billion to Rs. 3.30 billion, divided into 330 million shares, each valued at Rs. 10.
According to information available from the Pakistan Stock Exchange (PSX), the proposed move to increase authorized capital is a strategic decision aimed at positioning Media Times Limited for future growth and expansion within the market.
Attendees are reminded that no gifts will be distributed at the meeting, and all participants are advised to follow the guidelines for professional conduct as issued by the Securities and Exchange Commission of Pakistan (SECP).
The AGM represents a significant moment for MTL as it looks to solidify its strategic objectives and align its corporate structure with its long-term goals.