Karachi: Safe Mix Concrete Limited has scheduled its 20th Annual General Meeting (AGM) for October 27, 2026, according to a notice released by the company on October 6, 2026. The meeting will be held at Naya Nazirnabad Gymkhana, located on Manghopir Road, Karachi, at 10:30 a.m.
The agenda for the meeting includes several ordinary and special business items. Shareholders will first confirm the minutes from the previous AGM held on October 28, 2025. They will then review the company's annual audited financial statements, along with the Directors' and Auditors' Reports for the fiscal year ending June 30, 2026. Furthermore, a final cash dividend of 30%, translating to PKR 3 per ordinary share, will be considered for approval, as recommended by the Board of Directors.
The appointment of auditors is another key item on the agenda. The Board of Directors, following the Audit Committee's suggestion, has recommended the reappointment of M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co., Chartered Accountants, for the fiscal year ending June 30, 2027.
For special business, a resolution is proposed to revise the remuneration for Non-Executive and Independent Directors attending Board and Committee meetings. The remuneration is set to increase from Rs.12,000/- to Rs.50,000/- per Board meeting and Rs.25,000/- per Committee meeting. However, directors associated with the Arif Habib Group will not be entitled to these fees.
The meeting will also address transactions with Related Parties for the year ending June 30, 2026. According to information available from the Pakistan Stock Exchange (PSX), these transactions have been disclosed in Note 39 of the financial statements and require ratification from shareholders. The Board is also seeking authorization to approve future transactions with Related Parties for the fiscal year ending June 30, 2027, which will subsequently require shareholder approval at the next AGM.
A statement under section 134(3) of the Companies Act 2017, related to the agenda items concerning directors' remuneration and related party transactions, is provided to shareholders for their information.