announcements

⚡ Flash Summary

First Treet Manufacturing Modaraba (FTMM) has issued a corrigendum to the notice for its Annual Review Meeting (ARM), initially scheduled for October 27, 2025. The corrigendum pertains to Agenda Item No. 3, concerning the appointment of external auditors. Specifically, the Board of Directors recommends the appointment of M/s Kreston Hyder Bhimji & Co., Chartered Accountants, as the new external auditors, replacing the retiring auditors, M/s Rahman Sarfaraz Rahim Iqbal Rafiq & Co. The meeting details (date, time, and location) remain unchanged as per the initial notice.

📌 Key Takeaways

• 📅 FTMM’s Annual Review Meeting (ARM) is scheduled for October 27, 2025.
• 📝 A corrigendum was issued regarding Agenda Item No. 3.
• 🏢 M/s Kreston Hyder Bhimji & Co. are recommended as new external auditors.
• 💼 The outgoing auditors are M/s Rahman Sarfaraz Rahim Iqbal Rafiq & Co.
• 🤝 The Board of Directors made the recommendation.
• 📜 This change is for the financial year ending June 30, 2026.
• 🗓️ The original ARM notice was disseminated on October 6, 2025.
• 🏛️ The ARM will be held at Ali Auditorium, Ferozepur Road, Lahore.
• ⏰ The meeting will commence at 10:00 A.M.
• 📰 The corrigendum will be published in English and Urdu newspapers.
• 📜 Compliance with Section 132 of the Companies Act, 2017 is ensured.
• ✉️ The Pakistan Stock Exchange has been informed of the amendment.
• 🎯 Agenda item is the appointment of external auditors and fixing their remuneration.

🎯 Investment Thesis

Given the nature of the announcement, which is purely procedural, a HOLD recommendation is appropriate. The change in auditors does not provide sufficient information to warrant a change in investment strategy. Further information is needed to assess any potential financial impact. Monitor future financial statements and auditor’s reports for any significant insights.