Islamabad: The Oil and Gas Development Company Limited (OGDCL) has announced the convening of its 28th Annual General Meeting, set to take place on October 27, 2025, at the company's head office in Islamabad. The meeting will commence at 09:00 a.m., and the agenda includes several key items for discussion and approval by the shareholders.
The ordinary business scheduled for the meeting includes the confirmation of the minutes from the previous Annual General Meeting held on October 25, 2024, as well as the minutes from the 14th Extraordinary General Meeting that took place on September 10, 2025. Additionally, shareholders will review the audited separate and consolidated financial statements for the fiscal year ending June 30, 2025. This review will be accompanied by reports from the directors, auditors, and the chairman.
A significant matter on the agenda is the approval of the final cash dividend, proposed at Rs 5 per share, representing a 50 percent payout for the year ending June 30, 2025. This is supplementary to three interim cash dividends that total 100.50 percent, amounting to Rs 10.05 per share, which have already been disbursed during the fiscal year.
The meeting will also address the appointment of auditors for the 2025-26 fiscal year, as the current auditors, M/s. A.F Ferguson & Co., Chartered Accountants, will retire at the conclusion of this meeting.
According to information available from the Pakistan Stock Exchange (PSX), OGDCL's financial announcements and dividend declarations are closely monitored by investors and market participants, given the company's significant role in the oil and gas sector.
Provisions for proxy appointments have been outlined, requiring submission of forms with attested copies of identity documents. For corporate entities, a resolution or power of attorney must be provided for representation at the meeting.
A video conference facility will be arranged if there is sufficient demand, requiring at least 10 percent of the shareholders from a geographical location to request participation seven days prior to the meeting.
Shareholders are advised to ensure their contact information is up to date to avoid any inconvenience, and are reminded that future dividend payments will be made via electronic transfer, necessitating the provision of bank account details.
The company has also facilitated the distribution of annual reports through digital means, aligning with modern practices and regulatory permissions.
Furthermore, OGDCL highlighted the requirement for physical shareholders to register their details to comply with legal regulations. The company is encouraging the conversion of physical shares to book-entry form, adhering to Section 72 of the Companies Act, 2017.
Finally, shareholders with unclaimed dividends or share certificates are urged to contact the company to resolve outstanding issues.
The meeting is an important event for OGDCL stakeholders, offering an opportunity to engage with the company's management and review its performance over the past year.