Karachi: International Packaging Films Limited has announced the convening of its 11th Annual General Meeting (AGM) to be held on October 26, 2026. The meeting will take place at 09:30 AM at the PSX Auditorium, Pakistan Stock Exchange Building, Stock Exchange Road, Karachi, with an option for attendance via video conferencing.
The agenda for the AGM includes several items of ordinary business. Shareholders will be called upon to receive, consider, and adopt the annual audited financial statements for the year ended June 30, 2026, along with the accompanying Auditors' and Directors' Reports.
In line with the designated market category, another significant item on the agenda is the appointment of auditors for the next financial year ending June 30, 2027. M/s. A.F. Ferguson & Co. Chartered Accountants, the current auditors, have expressed their willingness to continue in their role, and the Board of Directors has recommended their re-appointment, subject to a fee to be mutually agreed upon.
Furthermore, the Board has proposed the approval of a Final Cash Dividend at the rate of 20% (Rs. 2.00 per share) for the financial year ended June 30, 2026. This proposal is expected to be a significant move for the shareholders.
A piece of special business will also be addressed during the meeting. According to the proposed Special Resolution under Section 199 and other applicable provisions of the Companies Act, 2017, the Company seeks authorization to provide Corporate Guarantees in favor of Petpak Films (Private) Limited, its 51% owned subsidiary. The resolution would authorize guarantees for loans and financing facilities up to an aggregate limit of PKR 15.00 billion over a three-year period.
According to information available from the Pakistan Stock Exchange (PSX), these corporate guarantees aim to secure financial support for Petpak Films (Private) Limited under mutually agreed terms and applicable laws.
The meeting will provide the Chief Executive and/or the Chief Financial Officer with the authority to undertake necessary actions concerning the corporate guarantees, emphasizing compliance with all relevant regulations.