Karachi: Next Capital Limited has scheduled its fifteenth annual general meeting (AGM) for October 25, 2024, at its corporate office in Karachi, as detailed in a recent notice issued to shareholders. The meeting will address several key points, including ordinary business regarding the company's annual financial statements for the year ended June 30, 2024, and special business concerning the transfer of business units.

The upcoming AGM will feature discussions on the approval of the financial statements from the previous fiscal year and the reappointment of auditors. A significant focus of the meeting will be on special resolutions concerning the disposal and transfer of business assets to a wholly owned subsidiary, which were previously detailed to shareholders.

According to information available from the Pakistan Stock Exchange (PSX), the specific assets under consideration include technology and intellectual property associated with the company's financial solutions project known as 'Project Subsidiary.' The board has proposed the complete transfer of these assets to streamline operations and focus on core business strategies.

The notice further stated that shareholders must attend in person or via proxy, with instructions on proxy submissions provided. All attendees are required to verify their identities and shareholding status through the national digital identification system or by presenting original documentation at the meeting.

The board of Next Capital Limited has expressed that this strategic move is designed to optimize operational efficiency and enhance shareholder value. The proposed changes are expected to take effect immediately following the AGM, subject to shareholder approval.