Karachi: Al-Abbas Sugar Mills Limited has released an official notification regarding its upcoming 35th Annual General Meeting (AGM), scheduled to be held at the Mövenpick Hotel in Karachi on Wednesday, January 26, 2026, at 10:30 AM. The meeting will also be accessible through an online platform, allowing shareholders to participate remotely.
The meeting agenda includes several key items of ordinary business. Shareholders will be asked to confirm the minutes of the previous AGM held on January 26, 2025. Additionally, the meeting will involve the consideration and adoption of the company’s Annual Audited Financial Statements for the year ended September 30, 2025, along with the accompanying reports from the auditors and directors.
A significant point of discussion will be the approval of a cash dividend for the financial year 2024-25. The Board of Directors has recommended a final cash dividend of 130%, equivalent to Rs. 13.00 per share. This recommendation comes on top of an interim dividend of 370%, translating to Rs. 37.00 per share already distributed. Consequently, the total dividend for the fiscal year amounts to Rs. 556.115 million, or Rs. 60.00 per share.
The AGM will also address the appointment of auditors for the upcoming year. The existing auditors, M. Yousuf Adil & Co., Chartered Accountants, have expressed their willingness to be reappointed for the fiscal year 2025-2026.
Shareholders are advised that the company’s transfer books will remain closed from January 22, 2026, to January 28, 2026, inclusive, for the purposes of the AGM and dividend payment. Transfer requests received by the close of business on January 21, 2026, will be processed in due course.
In line with regulatory guidelines, shareholders are encouraged to participate in the AGM via electronic means. Details for electronic participation, including the provision of necessary particulars, are available on the company’s website. Shareholders must submit their details by 2:00 PM on January 7, 2026, to facilitate their participation in the virtual proceedings.
According to information available from the Pakistan Stock Exchange (PSX), the market will observe the closure of Al-Abbas Sugar Mills’ books during the aforementioned period. This measure ensures that only shareholders registered by the cut-off date will be eligible to attend and vote at the AGM.
For those unable to attend, the company permits the appointment of proxies to vote on their behalf, provided the necessary documentation is submitted 48 hours prior to the meeting. The company emphasizes the importance of ensuring that all proxy forms are duly completed and witnessed by two individuals.
In accordance with Section 223 of the Companies Act, 2017, and relevant SECP directives, the company has made its Annual Report available through a QR code and a web link. Shareholders wishing to receive the report in electronic format may apply via the company’s website. The audited financial statements have also been published online.
The company reminds shareholders that, as per legal requirements, dividends will only be remitted through electronic means directly into the designated bank accounts. Shareholders are urged to update their bank details with the company’s share registrar, CDC Share Registrar Services Limited, to ensure seamless transactions.
Finally, shareholders are advised to verify their tax status and ensure their inclusion in the Active Taxpayer List to benefit from reduced withholding tax rates on dividends. Joint account holders are requested to provide details of their shareholding to avoid higher tax deductions.
This notification serves to keep shareholders informed and ensure their active participation in the governance of the company.