Islamabad: Telecard Limited has officially announced its 32nd Annual General Meeting (AGM), set to be held on October 28, 2025, at 12:00 noon, at its Islamabad office located on 75 East Blue Area Fazal-ul-Haq Road. This meeting is organized to address several significant agenda items, including the approval of the audited annual financial statements and the appointment of external auditors.
The AGM will review and confirm the minutes from the previous meeting held on November 27, 2024. Furthermore, shareholders will receive, consider, and potentially adopt the audited financial statements for the year ending June 30, 2025. The reports of both the directors and auditors will accompany these statements.
In compliance with Section 223 of the Companies Act 2017, the annual report, including the financial statements, has been provided to shareholders and is available on the company’s website. This ensures transparency and easy access for shareholders to review pertinent financial information.
One of the critical points on the agenda is the appointment of external auditors for the fiscal year ending June 30, 2026. The current auditors, M/s Parker Russell – A.J.S. Chartered Accountants, are retiring but have expressed their willingness to be reappointed. Shareholders will decide on their reappointment and the remuneration for their services.
The meeting will also delve into special business concerning related party transactions. Shareholders will consider ratifying and approving resolutions related to transactions with related parties, as mandated by Sections 207 and 208 of the Companies Act, 2017. This includes authorizing the Board of Directors to enter into or carry out such transactions during the financial year ending June 30, 2026.
The shareholder register will be closed from October 22, 2025, to October 28, 2025, and any share transfers registered by October 21, 2025, will determine the eligibility to attend and vote at the AGM. Proxies must be submitted at least 48 hours before the meeting, with specific identification requirements for those attending in person or by proxy.
According to information available from the Pakistan Stock Exchange (PSX), Telecard Limited is categorized under the Telecommunications sector, a vital area within the market. This classification underscores the significance of the AGM’s discussions and decisions for stakeholders.
The company has also made provisions for members to participate virtually via video link, ensuring broader accessibility and engagement. This move reflects a commitment to facilitating member participation, even for those residing outside Islamabad.
In addition to the traditional voting methods, the AGM will also incorporate e-voting and postal ballot provisions, allowing members to vote on special business items. The e-voting period is scheduled from October 25, 2025, to October 27, 2025.
Telecard Limited’s AGM is a crucial event, providing a platform for shareholders to influence significant company decisions and ensure alignment with corporate governance standards.