Karachi: The Searle Company Limited has announced the convening of its 61st Annual General Meeting (AGM), scheduled for October 22, 2026, at 4:00 pm. The meeting will take place at Khorshed Mahal, Avari Towers, Fatima Jinnah Road, Karachi, with an option for members to join via a video conferencing facility.
The agenda for the AGM includes the confirmation of minutes from the extraordinary general meeting held on June 12, 2026, and the presentation of the company's standalone and consolidated audited financial statements for the year ending June 30, 2026. The Board of Directors and the Independent Auditor's Reports will accompany these financial statements.
A key highlight of the meeting will be the proposal to approve a final cash dividend of 10%, equating to PKR 1 per share of PKR 10 each, for the financial year ending June 30, 2026. This recommendation comes from the Board of Directors.
Additionally, the AGM will address the appointment of statutory auditors for the financial year ending June 30, 2027. The Board of Directors has recommended M/s KPMG Taseer Hadi & Co., Chartered Accountants, for this role, with remuneration to be mutually agreed upon.
The meeting will also involve the election of seven directors for a term of three years, as per Section 159(1) of the Companies Act, 2017. The retiring directors eligible for re-election include Mr. Arshad Anis, Mr. Tahir Ahmed, Mr. Munis Abdullah, Mr. S. Nadeem Ahmed, Mr. Zubair Razzak Palwala, Ms. Shaista Khaliq Rehman, and Ms. Ameena Saiyid.
A special business agenda includes the approval of remuneration for the Chief Executive Officer and one full-time director, which shall not exceed PKR 90 million, inclusive of allowances and benefits, for the year ending June 30, 2027. Furthermore, the CEO and Executive Director are authorized to use company-maintained transport for official and private purposes.
The AGM will also consider the ratification and approval of related party transactions conducted during the year ending June 30, 2026. According to information available from the Pakistan Stock Exchange (PSX), these transactions are disclosed in note 44 of the unconsolidated financial statements and will be authorized for continuation in the financial year ending June 30, 2027, with future ratification at the next AGM.
Finally, the meeting will address any other business permitted by the chair. Members have been provided with a Statement of Material Facts concerning the special business, which is available on the company's website.