⚡ Flash Summary

Next Capital Limited’s upcoming Annual General Meeting (AGM) on October 28, 2025, includes ordinary business such as confirming minutes and adopting financial statements for the year ended June 30, 2025. A key special business item involves the proposed transfer of 16% shareholding in Finqalab Technologies to Mr. Najam Ali, reducing Next Capital’s stake to 60%. This transfer, previously approved by the Board, recognizes Mr. Ali’s role as co-founder and is subject to shareholder approval via a special resolution. Shareholders are also requested to consider the related provisions and disclosures regarding the proposed divestment.

📌 Key Takeaways

• 🗓️ AGM scheduled for October 28, 2025, at 1:00 p.m. in Karachi.
• ✅ Agenda includes confirming minutes from the October 25, 2024 AGM.
• 🧾 Adoption of audited financial statements for the year ending June 30, 2025.
• 👨‍💼 Election of seven directors for a 3-year term is on the agenda.
• 🤝 Retiring directors are eligible for re-election.
• 💼 Special resolution to consider transferring 16% shareholding in Finqalab Technologies to Mr. Najam Ali.
• 📉 This transfer would reduce Next Capital’s shareholding in Finqalab to 60%.
• 📜 The transfer is subject to Section 183(3)(a) and Section 199 of the Companies Act, 2017.
• 🌐 Financial statements are available on the company’s website.
• ⚠️ Share transfer books will be closed from October 21st to October 28th, 2025.
• ✉️ Members can participate in the AGM via video link after registration.
• 🧾 Hard copies of financial statements will be provided upon request.
• 🚫 Companies are prohibited from providing gifts at general meetings.
• 🔍 M/s. Crowe Hussain Chaudhury & Co is appointed as scrutineer for the special business.
• 🏦 Unclaimed dividends will be deposited with the Federal Government/SECP after three years.

🎯 Investment Thesis

HOLD. With limited quantitative financial data (besides that the total subsidiary valuation of PKR 232 million) and the deal appears to incentivize the subsidiary’s co-founder. Investors should monitor SECP & shareholder vote. Price target and specific time horizon hard to project.