Lahore: Mughal Energy Limited has released the detailed procedure for voting through electronic means and ballot paper for its upcoming Annual General Meeting (AGM). The meeting is scheduled for October 22, 2026, at 11:45 a.m. at the Avari Hotel in Lahore. This announcement follows the company’s notice regarding the AGM to address several special business matters.
In compliance with the Companies (Postal Ballot) Regulations, 2018, Mughal Energy Limited is extending the option to its members to vote using an electronic voting facility or traditional ballot paper. Digital Custodian Company Limited has been appointed as the service provider for the e-voting facility. Members who appear in the company's register by the close of business on October 12, 2026, will receive login details and security codes via email or SMS.
The e-voting window will open from October 19, 2026, at 9:00 a.m. and close on October 21, 2026, at 6:00 p.m. Members will cast their votes on special business items including resolutions on obtaining financial facilities and increasing the company’s authorized capital.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions include obtaining a Rs. 500 million advance and a Rs. 3,000 million corporate guarantee facility from Mughal Iron & Steel Industries Limited. Additionally, the company seeks to increase its authorized capital from Rs. 2.50 billion to Rs. 4.50 billion.
Members opting to vote via ballot paper must ensure their documents reach the company’s chairman by October 21, 2026, during working hours. Ballot papers, available on the company's website, must be complete, signed, and accompanied by necessary identification documents.
This strategic move ensures that all shareholders have the opportunity to participate in the decision-making process, leveraging both digital and traditional means. The AGM will further address related party transactions and grant authorization for future dealings, in line with Sections 207 and 208 of the Companies Act, 2017.