⏸️ PIAHCLA: HOLD Signal (5/10) – CERTIFIED RESOLUTIONS PASSED IN EXTRAORDINARY GENERAL MEETING OF PIA HOLDING COMPANY LIMITED SHAREHOLDERS

📌 Key Takeaways

• ✅ Shareholders of PIAHCL approved the carving out of the Precision Engineering Complex (PEC) in an Extraordinary General Meeting.
• ✈️ PEC will be transferred to Precision Engineering Complex (Private) Limited (PECPL), a designated entity of the Pakistan Air Force (PAF).
• 📅 The transfer is effective from May 1, 2025.
• 📜 The resolution aligns with Sections 279 to 283 and Section 285(8) of the Companies Act, 2017.
• 🏛️ The decision is in line with the Federal Government’s approval vide Case No. 282/Rule-19/2025/404 dated May 01, 2025.
• 🚦 The Scheme of Arrangement is amended in accordance with the proposal of the representative of the Government of Pakistan through the Ministry of Defence.
• 🏢 Transfer is subject to sanction by the Securities and Exchange Commission of Pakistan (SECP).
• ✍️ The Chief Executive Officer and the Company Secretary are authorized to complete all necessary corporate, legal and regulatory compliances.
• 📄 This includes signing, executing, delivering, and issuing necessary notices, documents, forms, and instruments.
• 🤝 Obtaining no objection certificates from third parties is part of the compliance process.
• 🇵🇰 Compliance with all applicable legal and regulatory requirements is mandatory.

🎯 Investment Thesis

Given the lack of financial information and the strategic nature of the announcement, a HOLD recommendation is appropriate for PIAHCL. Investors should monitor the company’s future financial reports and announcements to assess the long-term impact of the PEC transfer on its financial performance. A revised investment thesis and price target can be established once sufficient data is available. A neutral stance is warranted until the financial implications become clearer.