⏸️ HUBC: HOLD Signal (5/10) – Publication of Postal Ballot and Provision of Electronic Voting

📌 Key Takeaways

• 📅 HUBCO announced the publication of a postal ballot on October 6, 2025.
• 🗳️ Electronic voting will be available for eligible members in compliance with regulations.
• 📰 The postal ballot details were published in “Business Recorder” on October 4, 2025, and “Nawa-i-Waqt” on October 5, 2025.
• 📄 The announcement references the AGM notice posted on September 19, 2025.
• 🏢 The company’s registered office is located at 9th Floor Ocean Tower, Karachi.
• 🌐 Information about the company can be found at hubpower.com.
• 🤝 The postal ballot relates to resolutions involving a Sponsor Support Agreement.
• 🏦 A corporate guarantee up to USD 55 million may be provided to lenders of MMCPL.
• ⚖️ The resolutions are under Section 199 of the Companies Act, 2017.
• ✉️ Postal ballots must reach the Chairman by October 14, 2025.
• 👤 Signature on postal ballot must match CNIC/Passport.
• 🏢 Representatives of corporate bodies must provide a Board Resolution copy.
• M/s. BDO Ebrahim & Co. is the Scrutinizer for the Special Business.
• The AGM is scheduled for October 15, 2025, at the Marriott Hotel, Karachi, at 10:00 am.

🎯 Investment Thesis

Given the limited information, a HOLD recommendation is appropriate. The announcement is procedural but flags potential contingent liabilities via the corporate guarantee. A more decisive stance would require detailed insights into MMCPL’s financial health, project economics, and the specific terms of the Sponsor Support Agreement. I need to wait for more data to form a better conclusion. A more in-depth analysis might give a BUY or SELL recommendation in the future.