⚡ Flash Summary

National Refinery Limited (NRL) has announced a board meeting scheduled for October 28, 2025, to review the financial statements for the quarter ended September 30, 2025. The meeting will be held at POL House in Morgah Rawalpindi. In anticipation of the meeting and potential declaration of entitlement, NRL has declared a “Closed Period” from October 20, 2025, to October 28, 2025, during which company directors, CEOs, and executives are prohibited from trading the company’s shares.

📌 Key Takeaways

• 📅 Board meeting announced for October 28, 2025.
• 🏢 Meeting to be held at POL House, Morgah Rawalpindi.
• 💰 Purpose: Review financial statements for the quarter ended September 30, 2025.
• 🤫 “Closed Period” declared from October 20, 2025, to October 28, 2025.
• 🚫 Directors, CEOs, and executives cannot trade NRL shares during the Closed Period.
• 📜 Compliance with PSX Rule Book Clause 5.6.4.
• 👤 Mr. Sardar Khan is the contact person for transmitting meeting results.
• 📞 Mr. Sardar Khan’s telephone number is 35061544.
• 📧 Mr. Sardar Khan’s email address is sardar_khan@nrlpak.com.
• 📍 NRL’s registered office is in Korangi Industrial Zone, Karachi.
• 🌐 NRL’s website is www.nrlpak.com.
• 🏢 The announcement was made to the General Manager of the Pakistan Stock Exchange Limited in Karachi.
• 📝 The announcement is classified as FORM-1.

🎯 Investment Thesis

Based on the announcement alone, a HOLD recommendation is appropriate. More information is needed about the financial performance for the quarter ending September 30, 2025, before making a BUY or SELL decision. A price target and time horizon will be determined after the financial results are released and analyzed.