Oct 22, 2026, 1:13 PM
Mughal Energy members approve AGM resolutions, including Rs. 4.5 billion authorized capital and related-party facilities
AGM / EGMAt its 14th Annual General Meeting held on October 22, 2026, Mughal Energy members adopted the audited financial statements for the year ended June 30, 2026, appointed M/s. Muniff Ziauddin & Company as statutory auditors, approved specified facilities and a corporate guarantee from its holding company, increased authorized capital, and ratified related-party transactions.
Key Findings
- The AGM adopted the audited financial statements for the year ended June 30, 2026; results are not included in this announcement.
- Members approved an advance/running finance facility of Rs. 500 million and a corporate guarantee facility of Rs. 3,000 million from Mughal Iron & Steel Industries Limited.
- Authorized capital was increased from Rs. 2.5 billion to Rs. 4.5 billion, with corresponding amendments to the Memorandum and Articles of Association.
- Members appointed M/s. Muniff Ziauddin & Company as statutory auditors for the 2026–2027 term and approved specified fees.
- Members ratified related-party transactions for the year ended June 30, 2026 and authorized related-party transactions during the year ending June 30, 2027, subject to subsequent presentation for ratification.
Meeting Details
Meeting
Annual general meeting
Date
Oct 22, 2026, 5:00 AM
Venue
Avari Hotel, 87-Shahrah-e-Quaid-e-Azam, Lahore
Meeting Details
Agenda
- Adopt audited financial statements for the year ended June 30, 2026, with the Directors’ and Auditor’s Reports and Chairman’s Review Report.
- Appoint statutory auditors and fix their remuneration.
- Approve funded/unfunded facilities from Mughal Iron & Steel Industries Limited, including advance/running finance and corporate guarantee facilities.
- Increase authorized capital from Rs. 2.5 billion to Rs. 4.5 billion and amend the Memorandum and Articles of Association.
- Approve and ratify related-party transactions.
Resolutions
- Audited financial statements for the year ended June 30, 2026 were approved and adopted.
- M/s. Muniff Ziauddin & Company was appointed statutory auditor for the 2026–2027 term.
- Members approved an advance/running finance facility of Rs. 500 million and a corporate guarantee facility of Rs. 3,000 million from Mughal Iron & Steel Industries Limited.
- Authorized capital was increased from Rs. 2.5 billion to Rs. 4.5 billion, and related constitutional amendments were approved.
- Related-party transactions for the year ended June 30, 2026 were ratified; authorization was granted for related-party transactions during the year ending June 30, 2027.
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.