Lahore: The shareholders of SPEL Limited, formerly known as Synthetic Products Enterprises Limited, are set to convene for the company’s 43rd Annual General Meeting (AGM) on September 30, 2025. The meeting will take place at 11:00 AM at the ICMA Pakistan Building on Ferozepur Road, near Mozang Chungi, Lahore. The agenda includes the adoption of audited financial statements for the fiscal year ending June 30, 2025, and other essential business matters.
The AGM will entertain ordinary business matters, including the approval of a final cash dividend of Rs. 0.4 per share, complementing an interim dividend of Rs. 0.6 per share distributed earlier. Additionally, the Board has proposed the reappointment of M/s KPMG Taseer Hadi and Co., Chartered Accountants, as auditors for the fiscal year 2025-26, following recommendations from the Board Audit Committee.
Share transfer books will remain closed from September 24 to September 30, 2025. Only those listed in the Register of Members by September 23, 2025, are eligible to participate and vote. Shareholders can attend in person or appoint a proxy. Proxy forms must be submitted with the necessary documentation at least 48 hours before the meeting.
The company offers a video conference facility for shareholders representing at least 10% of shareholding in a city, provided they notify the company seven days before the meeting. Guidelines for Central Depository Company investor account holders aim to facilitate their participation. According to information available from the Pakistan Stock Exchange (PSX), the company has been proactive in ensuring compliance with regulatory requirements.
Shareholders should ensure their names appear on the Active Taxpayers List to benefit from a reduced withholding tax rate on dividends. The company advises members to provide their International Banking Account Number (IBAN) details for direct dividend payments, as mandated by the Companies Act, 2017. Unclaimed dividends or shares will be transferred to the Federal Government if not claimed within the stipulated period.
The Securities and Exchange Commission of Pakistan has urged companies to convert physical shares into book-entry form. SPEL Limited encourages shareholders to adopt this system for a streamlined process.