⚡ Flash Summary

First Treet Manufacturing Modaraba (FTMM) held its 19th Annual Review Meeting on October 27, 2025, for the fiscal year ended June 30, 2025. Key resolutions included confirming minutes from the prior meeting, approving the annual audited financial statements, and appointing Kreston Hyder Bhimji & Co. as the external auditors for the year ending June 30, 2026. The meeting also ratified related party transactions and authorized the CEO and Board of Directors to approve future transactions with associated companies.

📌 Key Takeaways

• ✅ Minutes of the Annual Review Meeting held on October 28, 2024, were confirmed and approved.
• ✅ Annual Audited Financial Statements for the year ended June 30, 2025, were approved and adopted.
• 👨‍💼 Kreston Hyder Bhimji & Co. appointed as External Auditors for the financial year ending June 30, 2026, replacing Rahman Sarfaraz Rahim Iqbal Rafiq & Co.
• 🤝 Remuneration for the appointed auditor will be determined by the Management.
• 💼 Arm’s length transactions with associated companies were ratified and approved in accordance with Section 208 of the Companies Act, 2017.
• ✍️ The Chief Executive Officer (CEO) of FTMM is authorized to approve related party transactions during the year ending June 30, 2025.
• 📑 The CEO is authorized to take necessary actions and sign documents on behalf of FTMM regarding related party transactions.
• 🏢 The Board of Directors is authorized to approve transactions with related parties for the financial year ending June 30, 2026.
• ☑️ Transactions approved by the Board will be deemed approved by shareholders.
• 🗓️ These transactions will be presented at the next Annual Review Meeting for formal ratification/approval.

🎯 Investment Thesis

Given the lack of financial information in this announcement, a HOLD recommendation is appropriate. Further financial analysis is needed before making a BUY or SELL decision. A price target cannot be determined at this time.