Karachi: Shahtaj Sugar Mills Limited has announced its 60th Annual General Meeting (AGM), scheduled to take place on January 28, 2026, at 11:00 AM at the Beach Luxury Hotel on M.T. Khan Road, Karachi. This meeting is set to address several key business matters critical to the company's operations and shareholder interests.
The agenda for the meeting includes confirming the minutes from last year's AGM, held on January 27, 2025, and adopting the audited financial statements for the fiscal year ending September 30, 2025, along with the accompanying auditors' and directors' reports. Shareholders will also deliberate on the approval of a cash dividend of 12.5%, equivalent to Rs.1.25 per share for the year ended September 30, 2025, as proposed by the company's directors.
The appointment of auditors for the 2025-2026 period is another significant point on the agenda. The current auditors, M/s. BDO Ebrahim & Company, Chartered Accountants, have expressed their willingness to continue in their role.
The meeting will also address special business concerning related party transactions, covering dealings from October 1, 2024, to the present. Shareholders will vote on resolutions to ratify, approve, and confirm these transactions. The company's Chief Executive Officer, or a designated nominee, is set to receive authorization to oversee related party transactions until the next AGM.
The register of members will be closed from January 19, 2026, to January 28, 2026, to facilitate the meeting. Transfers received by the company's share registrar, M/s. JWAFFS Registrar Services (Pvt.) Limited, by the close of business on January 18, 2026, will be eligible for registration and participation in the meeting.
According to information available from the Pakistan Stock Exchange (PSX), the transactions with related parties include a dividend receipt of Rs.1,150,000 from Shehleh Textile Limited, purchases and services worth Rs.932,000 from Shahnawaz (Private) Limited, and a significant loan obtained amounting to Rs.100.00 million. Additionally, sales to Shezan International Limited totaled Rs.507.20 million, while loans from Shezan Services (Pvt.) Limited amounted to Rs.60.00 million.
Participation in the AGM requires shareholders to present their original CNIC or passport, with corporate entities providing a board resolution or power of attorney. Proxies must be submitted at least 48 hours before the meeting, with specific guidelines for CDC account holders.
The company also advises shareholders to notify M/s. JWAFFS Registrar Services (Pvt.) Limited of any changes to their mailing address to ensure smooth communication.