⚡ Flash Summary

Amreli Steels Limited (ASTL) has announced the publication of a postal ballot paper in newspapers regarding special resolutions to be passed at the Annual General Meeting (AGM) scheduled for October 28, 2025. The ballot paper will be published in two daily newspapers, one in English and one in Urdu, with nationwide circulation on October 20, 2025, in compliance with Regulation 8 of the Companies (Postal Ballot) Regulations, 2018. The resolutions pertain to issuing up to 40,000,000 ordinary shares to Mr. Shayan Akberali, an existing sponsor, at a price of PKR 25 per share, subject to SECP approval. The announcement indicates that the e-voting facility will be available to eligible shareholders in accordance with applicable laws, and the ballot paper is also available on the company website.

📌 Key Takeaways

• 📅 AGM scheduled for October 28, 2025.
• 📰 Postal ballot paper to be published in newspapers on October 20, 2025.
• 🇵🇰 One English and one Urdu newspaper with nationwide circulation.
• 📜 Complies with Regulation 8 of the Companies (Postal Ballot) Regulations, 2018.
• 🌐 Ballot paper also available on the company’s website.
• 💻 E-voting facility available for eligible shareholders.
• 🤝 Special resolution to issue up to 40,000,000 ordinary shares.
• 💰 Shares to be issued to Mr. Shayan Akberali at PKR 25 per share.
• 💼 Mr. Shayan Akberali is an existing sponsor of the company.
• ⚖️ Subject to SECP approval under Sections 83(1)(b) of the Companies Act, 2017.
• 📈 The new issue constitutes up to 13.47% of existing paid up capital
• 📉 The new issue constitutes up to approximately 11.87% of the post-issuance paid up capital of the company.
• ✔️ Shareholders can convey assent or dissent by placing a tick mark in the appropriate box.
• ✉️ Duly filled postal ballot paper should be sent to the Chairman of the Board.
• ✔️ Deadline to submit postal ballot forms is October 27, 2025.

🎯 Investment Thesis

HOLD. The announcement provides information on a procedural matter regarding shareholder voting on a proposed share issuance. While the issuance itself could have implications for the company’s financial performance and valuation, more information is needed to assess its impact. Until further details are available regarding the rationale for the issuance, the intended use of proceeds, and the company’s future prospects, a HOLD recommendation is appropriate. Monitor the company’s progress in obtaining regulatory approvals and implementing its growth strategy.