Karachi: National Foods Limited has scheduled an Extraordinary General Meeting (EGM) for September 15, 2025, at 04:00 PM. The meeting will take place at Royal Rodale, Karachi. Shareholders are invited to attend, either in person or through a video link facility, to deliberate on several key business decisions.
The agenda for the EGM includes confirming the minutes of the 53rd Annual General Meeting held on October 21, 2024. Of particular interest, however, are the resolutions surrounding the restructuring of the A-1 Bags & Supplies investment. This investment is currently managed by National Epicure Incorporated Canada through the National Foods Dubai Multi Commodities Center (NF DMCC), a wholly owned subsidiary of National Foods Limited. The proposed restructuring aims to maximize shareholder value by authorizing Epicure DMCC (UAE) to negotiate and finalize terms for part divestment and retention of the A-1 investment.
A resolution is also proposed to authorize Abrar Hasan, the global CEO and director of National Foods DMCC, to execute the Share Purchase Agreement and other necessary documents to facilitate the transaction. Hasan is also tasked with submitting a final report to the board post-transaction.
Another key item on the agenda is the approval of a related party transaction involving Epicure DMCC, which will continue to act as the transaction advisor for the restructuring and divestment of the A-1 Bags & Supplies investment. Shareholders are asked to authorize this ongoing advisory role.
Additionally, alterations to the Articles of Association of the company are to be considered and possibly approved. These proposed changes, as detailed in Annexure-A of the meeting notice, will incorporate any modifications required by the Securities and Exchange Commission of Pakistan.
According to information available from the Pakistan Stock Exchange (PSX), the designated market category remains undisclosed in the current notice.
Shareholders are reminded to bring original identification documents if attending in person. Those who have not submitted photocopies of their valid CNICs are urged to do so promptly. Changes in addresses should also be notified to the company’s Share Registrar immediately. Furthermore, members can exercise voting rights through postal ballot or e-voting in compliance with relevant regulations.
Members holding a minimum of ten percent of the total paid-up capital may request a video-link facility to participate in the meeting remotely, provided such a request is made at least seven days ahead of the meeting date.