⚡ Flash Summary

Merit Packaging Limited held its Annual General Meeting on October 24, 2025, where members ratified and approved transactions carried out in the normal course of business with associated companies/related parties, as disclosed in Note No. 44 of the audited financial statements for the year ended June 30, 2025. The CEO was authorized to approve and execute transactions with associated companies/related parties during the ensuing year ending June 30, 2026. This confirms ongoing business relationships and provides clarity on operational procedures for the coming year. The resolutions passed indicate a continuation of existing practices.

📌 Key Takeaways

• 🗓️ AGM held on October 24, 2025.
• ✅ Transactions with associated companies/related parties approved.
• 🧾 Note 44 of audited financials referenced.
• 📅 Financial year ending June 30, 2025 considered.
• 💼 CEO authorized for transactions up to June 30, 2026.
• 🤝 CEO empowered to sign necessary documents.
• 📜 Resolutions ratified by company members.
• 🏢 Transactions in normal course of business.
• 📌 Special Business addressed during AGM.
• 🔒 Clause 5.6.9.(b) of PSX Regulations followed.
• ✉️ Resolutions submitted to Pakistan Stock Exchange Limited.
• 🏢 Registered office: Lakson Square, Karachi.
• 📞 Phone: 3840 0000.

🎯 Investment Thesis

HOLD. The resolutions passed in the AGM do not fundamentally alter the investment case for Merit Packaging Limited. The focus remains on the underlying financials, and it is difficult to make a change in recommendation without assessing Note 44. Price Target: Undetermined. Time Horizon: Medium Term.