Karachi: Pakistan Cables Limited has officially announced the agenda for its upcoming 73rd Annual General Meeting (AGM), scheduled to take place on October 6, 2026, at 10:00 a.m. The meeting will be held at the Dr. Shamshad Akhtar Auditorium in the Pakistan Stock Exchange's Administration Building, located on I.I. Chundrigar Road, Karachi, with provisions for participation via video conferencing.
The AGM will address essential ordinary business items, including the confirmation of minutes from the Extraordinary General Meeting conducted on May 4, 2026. Additionally, shareholders will receive, consider, and adopt the company's Annual Audited Financial Statements for the fiscal year ending June 30, 2026. These financial statements, accompanied by the Directors' and Auditors' reports, have been made accessible on the company's official website, in accordance with Section 223(7) of the Companies Act, 2017.
A significant point on the agenda is the appointment of auditors for the year ending June 30, 2027. The current auditors, M/s. A. F. Ferguson & Co., Chartered Accountants, have expressed willingness for re-appointment. Based on recommendations from the Board Audit Committee, the Board of Directors has endorsed their re-appointment.
Among the special business matters, the shareholders will deliberate on a proposal to authorize the company to accept an offer from Chinoy Engineering & Construction (Private) Limited (CECL) for the buy-back of 4,845,000 ordinary shares, which represent Pakistan Cables Limited's entire 17% shareholding in CECL. The shares, priced at PKR 72.24 each, bring the total transaction value to PKR 350 million.
According to information available from the Pakistan Stock Exchange (PSX), the special resolutions will be subject to amendments, modifications, additions, or deletions as may be required by the Securities and Exchange Commission of Pakistan (SECP) or any other regulatory authority. The resolutions are structured to incorporate any regulatory changes seamlessly without necessitating new shareholder votes unless the changes are substantial.
The meeting will also provide an opportunity for transacting any other ordinary business legally permissible at an AGM, contingent on the Chair's approval.