Lahore: Stylers International Limited, a company listed on the Pakistan Stock Exchange, announced significant resolutions passed at its Extraordinary General Meeting held on May 20, 2026. The meeting, which took place at the company’s registered office on Ferozepur Road, Lahore, addressed special business matters requiring shareholder approval.

At the forefront of the meeting’s agenda was the approval of amendments to the Diminishing Musharaka Agreements, amounting to PKR 1.00 billion. This decision saw the rental rate under the agreement revised from 13.3% to 9.5% per annum, effective May 1, 2026. The repayment of the principal amount is scheduled to commence in January 2028 under the revised terms and conditions, mutually agreed upon by the involved parties.

According to information available from the Pakistan Stock Exchange (PSX), the meeting also saw the transfer of rights and obligations related to the rental income and principal amount. This transfer, effective from May 1, 2026, involves a novation agreement that shifts these responsibilities from Mr. Mian Salman Ahsan to Mr. Mian Muhammad Ahsan.

The resolutions further empowered the Chief Executive Officer and/or Company Secretary of Stylers International Limited to execute necessary documents, agreements, and amendments to facilitate the approved changes. This includes the authority to negotiate, finalize, execute, and sign the novation agreements and any other required documentation to ensure the effective implementation of the resolutions.

These strategic decisions mark a significant move for Stylers International Limited as they navigate their financial agreements and corporate obligations in alignment with shareholder interests.