Faisalabad: The shareholders of Rafhan Maize Products Co. Limited are notified of the 138th Annual Ordinary General Meeting, scheduled for Friday, April 24, 2026, at 4:00 p.m. The meeting will be conducted at the company’s head office on Rakh Canal East Road, Faisalabad. The agenda includes several significant items for discussion.
The initial agenda item involves the confirmation of the minutes from the previous Annual Ordinary General Meeting, which took place on Thursday, April 24, 2025, in Faisalabad. Shareholders will also review, consider, and adopt the audited financial statements for the year ending December 31, 2025, alongside the directors’ and auditors’ reports.
A key highlight of the meeting will be the approval of a substantial final cash dividend of Rs.150 per ordinary share, translating to a 1,500% return for the year ended December 31, 2025. This recommendation comes from the Board of Directors and is expected to be a focal point for shareholder discussion.
Auditor appointments will also be addressed, with the current auditors, Messrs KPMG Taseer Hadi & Co., Chartered Accountants, offering themselves for re-appointment. The Board of Directors, following recommendations from the Audit Committee, proposes their re-appointment for the fiscal year ending December 31, 2026, including a half-year review.
According to information available from the Pakistan Stock Exchange (PSX), Rafhan Maize Products Co. Limited operates within the designated market category of the food and beverage industry. This classification is relevant to stakeholders considering market dynamics and company performance.
Shareholders are reminded to provide necessary documentation, such as valid CNICs for physical shareholders and National Tax Numbers for corporate account holders, to ensure the smooth processing of dividends and compliance with regulatory requirements. The company emphasizes that future dividend payments will be withheld in the absence of these documents.
In alignment with the Companies Act, 2017, Rafhan Maize has transitioned to electronic dividend payments, requiring shareholders to submit a Dividend Mandate Request Form for direct bank transfers. Failure to comply will result in withheld dividends.
The company has also adopted a digital approach to distributing annual audited financial statements, now accessible via QR enabled codes and weblinks. Shareholders may request hard copies if preferred, using forms available on the company’s website.
Rafhan Maize has issued a final notice regarding unclaimed shares and dividends. Details are available on their website, with unclaimed amounts set to be deposited with the Federal Government if no claims are made.
Tax considerations are highlighted, with a 15% deduction for filers and a 30% deduction for non-filers, as per Section 150 of the Income Tax Ordinance, 2001. Shareholders with joint accounts are urged to clarify their shareholding proportions to ensure accurate tax withholding.
The introduction of the Centralized Cash Dividend Register by the Central Depository Company (CDC) aims to streamline dividend history tracking for shareholders. Shareholders are encouraged to utilize this eServices portal for their records.
Physical share certificates must be converted to book-entry form by the mandated deadline, as stipulated by the Companies Act, 2017. Rafhan Maize encourages shareholders with physical shares to transition to electronic accounts.
Finally, in response to SECP directives, the AGM will accommodate electronic participation, allowing stakeholders to join via video link. Shareholders are encouraged to register by April 22, 2026, to ensure participation and to consolidate attendance through proxies for those unable to attend physically.