Karachi: International Industries Limited (IIL) has announced its 78th Annual General Meeting (AGM) scheduled for October 7, 2026, at 10:30 a.m. at the Beach Luxury Hotel in Karachi, with an option for participation via video conferencing. The meeting will cover significant aspects of the company's operations and strategic decisions.
The agenda for the AGM includes the consideration and adoption of the audited financial statements, both unconsolidated and consolidated, for the fiscal year ending June 30, 2026. These financial documents are accompanied by the reports from the company’s directors and auditors.
Shareholders will deliberate on the approval of a final cash dividend of Rs. 5.0 per share, which, combined with a previously announced interim dividend of 20%, brings the total dividend payout to Rs. 7.0 per share, representing a 70% disbursement of profits for the year.
The meeting will also address the reappointment of M/s A. F. Ferguson & Co. as statutory auditors for the upcoming fiscal year, subject to mutually agreed remuneration terms and actual out-of-pocket expense reimbursements.
A notable item on the agenda involves the approval of Mr. Zain K. Chinoy's position as Executive Director of the company, which requires shareholder consent for his remuneration package. The package includes salary, bonuses, incentives, and other benefits as per his contract and company policy.
In terms of special business, the AGM will discuss the potential disposal of IIL's stake in Chinoy Engineering & Construction (Private) Limited. The proposed transaction involves the buy-back of 4,845,000 shares at PKR 72.24 each, totaling an aggregate consideration of PKR 350 million. This sale would divest IIL's entire 17% stake in the associated company.
According to information available from the Pakistan Stock Exchange (PSX), the transaction will require compliance with applicable laws and regulatory approvals, including submissions to the Securities and Exchange Commission of Pakistan and other authorities.
The meeting will also provide an opportunity to transact any additional business, with the chair's permission, that is permissible at an AGM under the Companies Act, 2017.
The designated market category for International Industries Limited remains significant due to its strategic decisions and financial outcomes, which will be reviewed during this gathering.