⚡ Flash Summary

Cordoba Logistics & Ventures Limited (CLVL) has announced its 39th Annual General Meeting (AGM) to be held on October 28, 2025. A key agenda item is to seek shareholder approval for deferring the repayment of a loan and related markup extended to its subsidiary, Cordoba Financial Services Ltd. (CFS), until December 31, 2026. Additionally, shareholders will ratify the provision of corporate guarantees on behalf of CFS. The meeting will also address standard AGM matters such as confirming minutes, adopting financial statements, and appointing auditors.

📌 Key Takeaways

• 🗓️ AGM scheduled for October 28, 2025, at 11:00 am.
• 🏢 Meeting will be held at the Pakistan Stock Exchange Limited (PSX) Regional Office, Lahore.
• 💻 Virtual attendance option available via video link.
• ✅ Agenda includes confirming minutes of the previous AGM held on October 28, 2024.
• 🧾 Shareholders to receive and adopt the Reports of Directors and Auditors along with Audited Annual Financial Statements for the year ended June 30, 2025.
• 👨‍💼 Appointment of Company’s Auditors and fixing their remuneration for the year ending June 30, 2026.
• M/s Parker Russell-A.J.S. Chartered Accountants proposed as external auditors.
• 💰 Deferment of loan repayment to subsidiary CFS until December 31, 2026, subject to shareholder approval.
• 💸 Outstanding principal loan amount to CFS: Rs. 20.90 Million.
• 📈 Mark-up on the loan to CFS until June 30, 2025: Rs. 31.02 Million.
• 🔒 Ratification of corporate guarantees provided on behalf of CFS to its banks, with a total exposure up to PKR 1,000,000,000/-.
• 📅 Share transfer books will remain closed from October 21-28, 2025.
• 🗳️ E-voting facility available for members with valid cell numbers/email addresses.
• 🌐 Annual Report available on the company’s website: www.cordobalv.com.
• 📜 Postal ballot option available; ballot paper annexed to the notice.

🎯 Investment Thesis

Given the proposed deferral of loan repayment from CFS and the potential financial risks associated with the subsidiary’s performance, a HOLD recommendation is appropriate for CLVL. While the company is addressing necessary corporate matters, uncertainties surrounding CFS’s financial stability and the potential impact on CLVL’s financials warrant caution. A thorough assessment of CFS’s financial health and its contribution to CLVL’s overall performance is needed before considering a BUY rating. The price target would depend on a clearer picture of CFS’s long-term viability and its contribution to CLVL’s earnings. Time horizon is MEDIUM_TERM, pending further financial data and analysis.