Lahore: Cordoba Logistics & Ventures Limited has announced the upcoming Annual General Meeting (AGM) scheduled for October 28, 2026, at 11:00 a.m. The meeting will take place at the Auditorium of the Pakistan Stock Exchange Limited (PSX) Regional Office building in Lahore, with additional arrangements for virtual attendance. Key items on the agenda include the confirmation of last year's AGM minutes, the adoption of reports and financial statements for the fiscal year ending June 30, 2026, and the appointment of auditors for the upcoming year.
The AGM will also address significant financial restructuring and investment decisions. The Board of Directors, following the Audit Committee's recommendation, has proposed the reappointment of M/s Parker Russell-A.J.S. Chartered Accountants as the company's external auditors.
A noteworthy item under special business includes the restructuring of an outstanding sponsor's loan. The proposal suggests that the loan, along with accrued interest, be restructured effective June 30, 2026, with options for repayment either in cash or through equity conversion as per the company's discretion. Importantly, it was resolved that no further interest or markup would accrue on the loan post-restructuring.
The meeting will also deliberate on increasing the aggregate investment limit in Cordoba Financial Services Limited (formerly Cordoba Leasing Limited) from PKR 1.00 billion to PKR 2.00 billion. This increase, initially approved during the AGM on October 27, 2023, covers loans, advances, and potential corporate guarantees required for the subsidiary's financial dealings.
According to information available from the Pakistan Stock Exchange (PSX), the company is committed to adhering to regulations under Section 199 of the Companies Act, 2017, concerning investments in associated companies or undertakings. The authorized increase in investment limit aims to support Cordoba Financial Services Limited in securing financing from banks and financial institutions.
The agenda concludes with provisions for addressing any other business matters with the Chair's permission. A comprehensive statement detailing the special business items is appended to the AGM notice, providing transparency and clarity for stakeholders involved.