Lahore: Hi-Tech Lubricants Ltd. has announced the details of its upcoming 17th Annual General Meeting (AGM), scheduled for October 24, 2025, at the Jinnah Auditorium, Lahore Chamber of Commerce and Industry, with additional arrangements for participation via the Zoom application. The announcement was made through newspaper advertisements in the English Daily Business Recorder and the Urdu Daily Nawa e Waqt on October 3, 2025.
The AGM's agenda includes the confirmation of minutes from the previous year's meeting, review and adoption of the company's audited financial statements for the year ending June 30, 2025, and the reappointment of M/s Riaz Ahmad & Co. as auditors for the 2025-26 financial year. The meeting will also address several special resolutions regarding transactions with related parties.
According to information available from the Pakistan Stock Exchange (PSX), Hi-Tech Lubricants is set to ratify transactions conducted with the Sabra Hamida Trust during the 2024-25 financial year and authorize the Board of Directors to approve future transactions up to PKR 30 million with the same trust for the following financial year.
Additionally, the company plans to ratify and approve significant transactions with its wholly-owned subsidiary, Hi-Tech Blending (Private) Limited (HTBL). These transactions include the sale of lubricants amounting to PKR 2,552,362, the purchase of lubricants valued at PKR 6.98 billion, lease rentals of PKR 3 million, short-term loans given and repaid at PKR 512.80 million and PKR 512.30 million respectively, and interest received on short-term loans totaling PKR 36,714,195. The financial exchange with HTBL represents a very large or significant move within the company's financial dealings.
The share transfer books of Hi-Tech Lubricants will remain closed from October 18, 2025, to October 24, 2025. Transfers submitted by October 17, 2025, will be eligible for attendance and voting at the AGM.
Shareholders are encouraged to participate in the AGM electronically via the Zoom application. The company has made arrangements to comply with all regulatory requirements for the meeting, including quorum specifications.