⚡ Flash Summary

Imperial Limited has announced its intention to seek an extension for holding its Annual General Meeting (AGM) for the year ended June 30, 2025. The decision was made during a board meeting on October 7, 2025. The company cites the ongoing audit of its financial statements and the recent appointment of a new auditor as reasons for the delay, indicating more time is needed to complete the audit fieldwork. They plan to submit a formal application to the Securities and Exchange Commission of Pakistan (SECP) for the extension and will share both the application and SECP’s approval with the Pakistan Stock Exchange (PSX) and TRE Certificate Holders.

📌 Key Takeaways

• 📅 Board of Directors of Imperial Limited resolved on October 7, 2025, to seek an extension for holding the AGM.
• ⏳ The extension is for the AGM related to the financial year ended June 30, 2025.
• 📝 The company needs more time to finalize the audited financial statements.
• 👨‍💼 The delay is attributed to the initial audit engagement for the newly appointed auditor.
• ✍️ Additional time is required to complete and conclude the field work for the audit.
• ✅ A formal application will be submitted to the SECP to request an extension of time.
• 📤 A copy of the application will be shared with the PSX upon submission.
• ✔️ The company will provide a copy of SECP’s approval within 48 hours of its receipt.
• 📢 TRE Certificate Holders and other concerned parties will be informed.
• 🤝 The company requests cooperation from stakeholders.

🎯 Investment Thesis

HOLD. Given the announcement focuses on procedural delays related to the AGM and audit completion, without providing insights into the company’s financial performance, a HOLD recommendation is appropriate. Monitor SECP’s response and the subsequent release of audited financial statements to reassess.