📈 CLOV: BUY Signal (8/10) – Minutes of Annual General Meeting

📌 Key Takeaways

• ✅ Adoption of minutes from the 38th AGM held on September 30, 2024.
• ✅ Approved audited financial statements for the year ended June 30, 2025.
• ✅ Re-appointment of Messrs. Reanda Haroon Zakaria Aamir Salman Rizwan & Company as auditors for the financial year ending June 30, 2026.
• 🤝 CEO authorized to fix auditor remuneration.
• 🏢 Approved acquisition of all Company Owned Company Operated (COCO) Filling / Service Stations from Fossil Energy (Private) Limited (FEPL).
• ⛽ Acquisition includes stations under construction.
• 💼 Acquisition to be conducted at arm’s length and in accordance with industry practices.
• 📝 Board authorized to negotiate, finalize, and execute acquisition terms.
• 🌱 Acquisition supports operational expansion and vertical integration goals.
• 🚀 Management delegated authority to acquire future COCO sites from FEPL as they become available.
• 🗓️ Adoption of minutes from the Extra Ordinary General Meeting (EOGM) held on April 21, 2025.
• 🤝 Directors and officers authorized to take necessary actions for resolutions.
• 📜 All resolutions carried unanimously.

🎯 Investment Thesis

Based on the information, a cautiously optimistic BUY recommendation is warranted, predicated on the successful integration of the FEPL COCO sites and the achievement of projected synergies. The strategic acquisition signals a move towards greater operational control and potential revenue growth. However, a comprehensive financial analysis and due diligence are necessary to confirm the investment thesis fully. A price target cannot be accurately set without financial projections, but assuming successful integration and synergy realization, a 15-20% upside is plausible over a medium-term horizon.