Karachi: National Foods Limited has officially scheduled its 55th Annual General Meeting (AGM) for October 26, 2026, at Beach Luxury Hotel, Karachi. The meeting, set to commence at 10:00 a.m., will accommodate shareholders both in person and via video link, facilitating broader participation.
The AGM agenda includes confirmation of the minutes from the Extraordinary General Meeting held on January 12, 2026, and the consideration and adoption of the audited financial statements for the fiscal year ending June 30, 2026. The meeting will also address the approval of a final cash dividend of Rs. 5.00 per ordinary share. This proposed dividend is in addition to the already paid 500% interim cash dividend, culminating in a total dividend of Rs. 30 per share, representing a 600% return for the financial year.
A.F. Ferguson & Co., Chartered Accountants, have been recommended for appointment as external auditors for the upcoming fiscal year ending June 30, 2027, pending shareholder approval.
Significant changes to the company's share structure are also on the agenda. The proposal seeks to subdivide each ordinary share with a face value of Rs. 5/- into five shares of Re. 1/- each. This subdivision is aimed at expanding the share base from 1,000,000,000 shares to 5,000,000,000 shares, aligning with the amended capital clauses of the company's Memorandum and Articles of Association.
Additionally, an addendum to a related party transaction between National Foods FZCO and Epicure FZCO in the UAE is up for ratification. Epicure FZCO will continue to provide investment advisory and post-acquisition services. This role was previously sanctioned by shareholders at the Extraordinary General Meeting in September 2025.
The AGM will also address the ratification of related party transactions for the fiscal year ended June 30, 2026, and authorize the Board of Directors to approve similar transactions for the 2027 fiscal year. This includes dealings with entities such as ATC Holdings (Private) Limited and National Foods FZCO.
In addition, an amendment to Article 62 in the Articles of Association will be considered, focusing on director remuneration policies. The proposed amendment outlines that non-executive and independent directors will receive fees for attending board meetings, with reimbursement for meeting-related expenses.
This AGM underscores significant corporate governance and strategic decisions pivotal to National Foods Limited’s operations and shareholder interests. According to information available from the Pakistan Stock Exchange (PSX), these developments are integral to the company's market positioning within the designated market category.