⚡ Flash Summary

Safe Mix Concrete Limited held its 19th Annual General Meeting on October 28, 2025, where directors were re-elected unopposed for a three-year term. Syed Najmudduja Jaffri has been appointed Chairman, and Abdus Samad Habib has been reappointed as Chief Executive Officer, each for a three-year term. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co. were appointed as the external auditors of the company. The new composition of the board and the appointments aim to comply with the Companies Act, 2017 and relevant regulations.

📌 Key Takeaways

• 🗓️ 19th Annual General Meeting convened on October 28, 2025.
• 🏢 Meeting held at Naya Nazimabad Gymkhana, Karachi, and via Zoom.
• ✔️ Directors re-elected unopposed for a three-year term.
• 📜 Re-election complies with Section 159 of the Companies Act, 2017.
• 🏢 Re-election complies with Listed Companies Regulations, 2019.
• 👨‍💼 Syed Najmudduja Jaffri appointed as Chairman under Section 192.
• 👨‍💼 Abdus Samad Habib reappointed as CEO under Section 187.
• 🕒 Chairman and CEO appointments are for a three-year term.
• 💼 M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co. appointed as External Auditors.
• audit_tenure The auditors’ term lasts until the next Annual General Meeting.
• 📰 Publication of new director composition in Pakistan Observer and Roznama Dunya on October 29, 2025.
• ✅ Compliance with clause 5.6.9(b) of the PSX Rule Book.
• 🏢 Company Secretary: Dabeer Ullah Sheikh.
• 📍 Registered Office: Karachi.
• 🌐 Announcement addresses TREC certificate holders of the Exchange.

🎯 Investment Thesis

Given the lack of financial data and the nature of the announcement focusing on governance changes, a HOLD recommendation is appropriate. The new board composition and leadership may influence future performance, but a thorough financial review is necessary before changing the recommendation.