Lahore: Fast Cables Limited (FCL) has scheduled its 18th Annual General Meeting (AGM) for Thursday, October 22, 2026, at 11:00 a.m. The meeting will be conducted both at the company's manufacturing unit located at Ijtama Chowk, Sundar Link Road, Raiwind, Lahore, and through a video conferencing facility. This dual format aims to ensure broader participation from shareholders in discussing and transacting critical business matters.
The agenda for the meeting includes both ordinary and special business items. Shareholders are set to confirm the minutes of the previous AGM held on October 27, 2025, and review the annual audited financial statements for the fiscal year ending June 30, 2026. The company's Board of Directors has proposed a final cash dividend of 15%, equivalent to Rs. 1.50 per share, for the said period. Additionally, the reappointment of M/s Crowe Hussain Chaudhary and Company, Chartered Accountants, as the external auditors for the year ending June 30, 2027, will be voted on.
In addressing special business, shareholders will consider ratifying and approving resolutions concerning related party transactions under Sections 207 and 208 of the Companies Act, 2017. These transactions, conducted during the year ended June 30, 2026, are detailed in Note No. 42 of the company's financial statements. Moreover, the AGM will address the proposed sale of a company building on leasehold land at 7-Canal Main, Jallo Road, Lahore, to a director for not less than PKR 300 million.
Another significant item on the agenda is the approval for utilizing surplus proceeds from the company's Initial Public Offering (IPO). The surplus, amounting to PKR 747.763 million out of a total IPO raise of PKR 3.130 billion in 2024, along with a return of PKR 328.976 million, is earmarked for the company's working capital needs.
According to information available from the Pakistan Stock Exchange (PSX), these resolutions reflect strategic financial and operational steps by Fast Cables Limited to optimize capital use and strengthen its financial position.
The AGM will also provide an opportunity for the company to address any other business matters with the consent of the Chair, ensuring comprehensive shareholder engagement and input.