⚡ Flash Summary

Mughal Iron & Steel Industries Limited has announced the upcoming election of directors at the Annual General Meeting (AGM) scheduled for October 28, 2025, in Lahore. Seven candidates have submitted their intention to offer themselves for election. Since the number of candidates does not exceed the number of director positions, all candidates will be deemed elected for a three-year term. Profiles of the directors are available on the company’s website.

📌 Key Takeaways

• 📅 The election of directors will take place at the AGM on October 28, 2025.
• 🏢 The AGM will be held at Avari Hotel, Lahore at 11:45 am.
• 🗳️ Seven candidates have filed notices of their intention to stand for election as directors.
• 👤 The candidates include Mr. Mirza Javed Iqbal, Mr. Khurram Javaid, Mr. Jamshed Iqbal, Mr. Muhammad Mateen Jamshed, Mrs. Samina Jamshed, Mr. Shoaib Ahmad Khan (Independent Director), and Mr. Muhammad Aslam Bhatti (Independent Director).
• ✅ Since the number of candidates is equal to the number of available director positions, all candidates will be deemed elected.
• 🕒 The elected directors will serve a three-year term.
• 🌐 Director profiles are available on the company’s website: www.mughalsteel.com.
• 📊 Independent Directors were selected from the Pakistan Institute of Corporate Governance (PICG) database.
• 📜 The election process complies with Section 166 of the Companies Act, 2017, and related regulations.
• 💼 Muhammad Fahad Hafeez, Company Secretary, issued the notice on behalf of the board.
• 📍 The notice was issued in Lahore.
• 📰 The notice will be published in Business Recorder and Nawa-e-waqt newspapers on October 16, 2025.
• 🏢 Mughal Iron & Steel Industries Limited is registered in Lahore.
• 📞 The company can be reached at +92-42-35960841-3.

🎯 Investment Thesis

HOLD. This announcement concerns the election of directors, a routine corporate governance matter. Without specific information on financial performance or strategic changes, there is no reason to alter the current investment stance. A HOLD recommendation remains appropriate pending further information on the company’s financial results and future outlook.