⏸️ SPL: HOLD Signal (6/10) – Applied for Extension for holding the AGM 2025

📌 Key Takeaways

• 📅 SPL applied for an extension on October 28, 2025, to hold its AGM.
• ⏳ The extension is for 30 days, moving the deadline to November 28, 2025.
• 🏢 The application is made under Section 132 of the Companies Act, 2017.
• 🧾 The extension also covers the submission of annual accounts for the year ended June 30, 2025.
• 💸 SPL paid a fee of PKR 15,000 for the extension application (Challan No.M-2025-1930442).
• 📉 The company cites a ‘severe financial crisis’ as the reason for the delay.
• 🛑 SPL temporarily suspended operations and implemented staff layoffs as a cost-cutting measure.
• audit.
• 📄 A letter from the external auditors is attached, indicating delays in audit completion.
• 🗓️ The last AGM was held on September 01, 2025, for the financial year ended June 30, 2024.
• 🧾 The company is required to place its annual accounts before shareholders by October 28, 2025, as per Section 132.
• 🕒 The external auditor expects to complete the audit as soon as they receive necessary information (dated October 18, 2025).

🎯 Investment Thesis

Given the current financial difficulties, a HOLD rating is appropriate. Until the company stabilizes its financial position and completes the audit, investors should avoid further investment. A BUY recommendation could be considered if the company successfully restructures, improves profitability, and resumes normal operations. A SELL recommendation would be appropriate if the financial situation deteriorates further, leading to potential bankruptcy or significant losses. The price target would be based on future financial performance after restructuring.