Lahore: Nishat Chunian Ltd has called for an Extraordinary General Meeting (EOGM) to be held on November 20, 2026, at 11:00 A.M. at its registered office in Lahore. The meeting aims to deliberate on significant matters, including a proposed buy-back of shares, according to a notice issued by the company on October 28, 2026.

The agenda includes the confirmation of the minutes from the last Annual General Meeting conducted on October 23, 2026. However, the primary focus will be on a special business item: the consideration and potential approval of a resolution to buy back up to 50,424,996 ordinary shares, representing 21% of the company's total issued shares. This move is aligned with Section 88 of the Companies Act, 2017, in conjunction with the Listed Companies (Buy-Back of Shares) Regulations, 2019.

According to information available from the Pakistan Stock Exchange (PSX), the buy-back process will involve acquiring shares at the prevailing spot price on the PSX during the designated purchase period. The company has ensured compliance with all applicable laws, including maintaining sufficient funds in designated clearing bank accounts to facilitate timely settlements.

The buy-back is scheduled to commence within seven days of the public announcement and conclude within 180 days from the date of the special resolution. The company emphasizes that the purchased shares will be cancelled, a move that aligns with the regulatory framework and corporate governance practices.

Additionally, the EOGM will address any other business matters with the permission of the Chair. Shareholders are encouraged to participate via the company's video link facility to ensure broader engagement in the decision-making process.