⚡ Flash Summary

WASL Mobility Modaraba announced an upcoming Annual Review Meeting (ARM) to be held on October 28, 2025, to review performance for the year ended June 30, 2025. The meeting will also address a special resolution regarding the approval for the issuance of right Modaraba certificates. This involves increasing the authorized certificate capital and paid-up certificate capital of WASL, issuing additional certificates at a discounted price to existing holders and the Modaraba Company (sponsor). The purpose of the right issue is to replace a shareholder loan with new equity injection, aiming to improve profitability by reducing short-term loan return expenses, which amounted to Rs. 25,621,505 for the year ended June 30, 2025.

📌 Key Takeaways

• 🗓️ Annual Review Meeting (ARM) scheduled for October 28, 2025.
• 📜 Reviewing Modaraba performance for the year ended June 30, 2025.
• ✅ Approving issuance of right Modaraba certificates as a special business item.
• ⬆️ Increasing authorized certificate capital from 152,217,660 to 200,000,000 certificates.
• 💸 Increasing paid-up certificate capital from 129,391,676 to 160,717,400 certificates.
• 🆕 Issuing 31,325,724 additional Modaraba certificates.
• 📉 Offering certificates at a discounted price of Rs. 4.74 (52.6% discount) for existing holders.
• 🤝 Offering certificates to the Modaraba Company (sponsor) at Rs. 5.27 (47.3% discount).
• 比例 Offering 24.21 right modaraba certificates for every 100 certificates held.
• 🏦 Replacing a shareholder loan of Rs. 150 million with a new equity injection.
• 📈 Aiming to improve profitability by reducing short-term loan return expenses.
• 💰 Short-term loan return expenses amounted to Rs. 25,621,505 for the year ended June 30, 2025.
• 🔒 Certificate Transfer Books to be closed from October 14 to October 28, 2025.
• 🌐 Certificate holders can attend the ARM through an online platform by registering before October 21, 2025.

🎯 Investment Thesis

Given the company’s move to replace debt with equity and the potential dilution from the discounted right issue, a HOLD recommendation is appropriate. Investors should monitor WASL’s ability to effectively deploy the new capital and improve profitability. The price target is dependent on successful execution and tangible improvements in financial performance over the next 12-18 months. The long-term prospects depend on how the company uses the new capital.