Lahore: First Capital Securities Corporation Limited, during its 33rd Annual General Meeting held on October 28, 2026, approved a series of significant resolutions addressing both ordinary and special business.
The shareholders confirmed the minutes of the previous Annual General Meeting from October 28, 2025. The meeting also saw the adoption of the audited financial statements for the fiscal year ending June 30, 2026, along with the accompanying Chairman's Review, Directors' Report, and Auditors' Reports.
In matters of auditor appointments, M/s. Malik Haroon Ahmad & Co. Chartered Accountants was appointed as the company's auditors for the fiscal year ending June 30, 2027. The Chief Executive was authorized to negotiate and determine the auditors' remuneration.
The corporation also addressed several special business items. A resolution was passed to authorize additional equity investments in Pace Barka Properties Limited, amounting to 1.50 billion rupees. The Chief Executive or any director was granted the authority to manage the investments and fulfill necessary corporate and legal requirements.
In a strategic move, the company resolved to divest its entire 100% shareholding in Ever Green Water Valley (Pvt.) Limited, totaling 715,400 ordinary shares. The shares are to be disposed of to Pace (Pakistan) Limited or any suitable market buyer, subject to board approval.
Additionally, the company decided to sell 16,561,634 ordinary shares, representing 78.86% of its stake in First Capital Investments Limited. The shares are to be sold to Mr. Imran Hafeez or any prospective buyer, contingent on board approval.
According to information available from the Pakistan Stock Exchange (PSX), the decisions reflect a strategic shift aimed at optimizing the company's portfolio through targeted investments and divestments.
Furthermore, the meeting ratified related party transactions conducted during the fiscal year ending June 30, 2026, and authorized similar transactions for the upcoming fiscal year ending June 30, 2027. The Chief Executive was empowered to execute necessary actions and documents to facilitate these transactions.
The resolutions mark a pivotal point for First Capital Securities Corporation Limited as it realigns its investment strategy and operational focus.