⚡ Flash Summary

Oilboy Energy Limited is seeking shareholder approval to change the utilization of funds raised through a rights issue amounting to PKR 250,000,000. Originally intended for a “Bio-Oil from Pyrolysis-Waste to Energy through Fast Pyrolysis” project, the funds have since been redirected. The company now proposes to use the funds for the expansion of their existing trading business involving coal, LPG, and allied fuel products, enhancement of storage, logistics, and supply chain infrastructure, and strengthening the working capital base and related operating assets.

📌 Key Takeaways

• 📢 Oilboy Energy Limited will hold an Extra-Ordinary General Meeting (EOGM) on December 16, 2025, at 9:30 am in Lahore.
• 💰 The EOGM’s primary agenda is to seek approval for a change in the utilization of funds from a rights issue of PKR 250,000,000.
• ♻️ Originally earmarked for a “Bio-Oil from Pyrolysis-Waste to Energy” project, the funds have been redirected.
• 🔥 The company now intends to use the funds for expansion of trading in coal, LPG, and allied fuel products.
• 📦 A portion of the funds will be allocated to enhance storage, logistics, and supply chain infrastructure.
• 💪 Strengthening the working capital base and related operating assets is another key objective for the reallocated funds.
• 🗓️ The share transfer books will be closed from December 9, 2025, to December 16, 2025, for the EOGM.
• 🗳️ Shareholders can appoint proxies to attend, speak, and vote on their behalf.
• 🆔 Attendees must present their original CNIC or passport for identification.
• 🏢 Corporate entities must provide a Board of Directors’ resolution/power of attorney.
• 💻 Shareholders residing in distant cities and holding 10% of share capital, may request video-link facility to join the meeting.
• ✉️ Alternatively, members can vote via postal ballot, ensuring ballots are received by December 15, 2025.
• 🌐 E-voting is also available; members with registered details can vote electronically during a specified period.
• 🔒 E-voting opens December 13, 2025, and closes on December 15, 2025.

🎯 Investment Thesis

HOLD. The reallocation of funds signals a strategic shift. While the revised utilization plan seems to focus on more immediate operational needs, the success of this shift is uncertain. Without financial performance data, especially regarding the impact of the reallocated funds, it is prudent to maintain a HOLD rating. Any price target is speculative pending concrete results from the new strategic direction.