Karachi: Trust Securities & Brokerage Limited has announced the 33rd Annual General Meeting (AGM) to be held on October 26, 2026, at its headquarters in Karachi. The meeting is set to address various key business agendas, including a significant increase in the company's authorized share capital and potential ventures into virtual asset services.
The AGM, scheduled for 3:30 p.m. at the Business & Finance Centre on I.I. Chundrigar Road, will include the confirmation of minutes from the Extraordinary General Meeting held on April 1, 2026, and the adoption of audited financial statements for the fiscal year ending June 30, 2026. The appointment of auditors for the next financial year will also be on the agenda.
One of the pivotal points of discussion will be the proposed increase in the company's authorized share capital from Rs. 750 million to Rs. 1 billion. This amendment would change Clause V of the Memorandum of Association and Clause 4 of the Articles of Association to reflect the new capital structure. The ordinary shares, when issued, will carry equal voting rights and rank pari passu with existing shares.
According to information available from the Pakistan Stock Exchange (PSX), Trust Securities & Brokerage Limited is considering substantial engagements in virtual asset services. The company plans to seek a No-Objection Certificate (NOC) from the Pakistan Virtual Assets Regulatory Authority (PVARA) to operate as a Virtual Asset Service Provider (VASP). This move includes potential applications for licenses to offer broker-dealer services and other categories such as custody, exchange, and token issuance services.
Further, the company is exploring the establishment of Special Purpose Acquisition Companies (SPACs), which involves public fundraising aimed at mergers or acquisitions within a prescribed timeframe. The proposal includes the formation of a public limited company to act as a SPAC, with Trust Securities & Brokerage Limited potentially taking on the role of promoter or sponsor.
The resolutions to be discussed also authorize the Board of Directors to make necessary amendments to the company's Memorandum and Articles of Association, ensuring compliance with evolving regulations. The meeting will grant the Chief Executive Officer and Company Secretary authority to execute all requisite actions for these strategic initiatives, subject to approvals from regulatory bodies such as the SECP and PSX.