⚡ Flash Summary

Intermarket Securities Limited held its 27th Annual General Meeting on October 22, 2025, where shareholders approved the audited financial statements for the year ended June 30, 2025. They also re-appointed Rahman Sarfaraz Rahim Iqbal Rafiq – Chartered Accountants, as auditors for the financial year ending June 30, 2026. A significant resolution was passed to approve an additional unsecured credit facility of PKR 40,000,000 to Mrs. Erum Bilwani, the Chairperson of the Company, for a two-year period, extending the total outstanding amount to PKR 50,750,482/- until December 31, 2025, subject to SECP approval.

📌 Key Takeaways

• ✅ AGM held on October 22, 2025, at ICAP Auditorium, Karachi.
• ✔️ Audited financial statements for the year ended June 30, 2025, approved.
• 👨‍💼 Rahman Sarfaraz Rahim Iqbal Rafiq re-appointed as auditors for the year ending June 30, 2026.
• 🤝 CEO authorized to negotiate and fix auditors’ remuneration for the year ended June 30, 2025.
• 🏦 Approved an additional unsecured credit facility of PKR 40,000,000 to Chairperson Mrs. Erum Bilwani.
• 🗓️ The credit facility is for a period of two years from actual disbursement.
• 📑 Existing outstanding amount of PKR 50,750,482/- being availed till an extended term till Dec.31, 2025.
• ✍️ Loan terms to be set out in a Loan Agreement between the company and Mrs. Bilwani.
• 🔒 Terms include amount, tenure, interest rate, repayment schedule, and other covenants.
• 🏦 The loan is subject to obtaining approval from the SECP before sanctioning.
• ✔️ Shareholders approved the execution of the Loan Agreement and any ancillary documents.
• 🤝 Authorized Persons are authorized to amend the loan terms as required by SECP.
• ✔️ CEO and/or Company Secretary authorized to finalize and execute the loan.
• ✔️ They are authorized to make an application to the SECP for its approval.

🎯 Investment Thesis

Given the limited financial information and the corporate governance focus of the announcement, a HOLD recommendation is appropriate. Further analysis of the company’s financials and the specific terms of the credit facility would be necessary to make a more informed investment decision.