CLOV

⚡ Flash Summary

Clover Pakistan Limited’s AGM held on October 28, 2025, involved voting on a special business resolution regarding the acquisition of Company Owned Company Operated (COCO) Filling/Service Stations from its parent company, Fossil Energy (Private) Limited. The voting was conducted through in-person and e-voting, with the total number of shares/votes held being 12,412,630. The resolution passed with overwhelming support, as 12,404,147 votes were cast in favor, representing 99.9317% of the total votes cast. This indicates strong shareholder approval for the proposed acquisition.

📌 Key Takeaways

• ✅ The AGM took place on October 28, 2025.
• 🗳️ Voting methods included both in-person and e-voting.
• 🤝 The primary resolution involved the acquisition of COCO filling stations from Fossil Energy (Private) Limited.
• 🏢 Total shares/votes held amounted to 12,412,630.
• 👍 A total of 12,404,147 votes were cast in favor of the resolution.
• 👎 Only 8,483 votes were cast against the resolution.
• 💯 The resolution passed with 99.9317% of votes in favor.
• 💼 The board is authorized to negotiate and finalize the acquisition terms.
• 📜 The acquisition will be undertaken on an arm’s length basis, adhering to industry practices.
• ✍️ Directors and officers are authorized to execute necessary documents for the acquisition.
• 🏢 Acquisition involves all Company Owned Company Operated (COCO) Filling / Service Stations

🎯 Investment Thesis

Based on the high approval rate and the potential for increased market presence through acquisition, a BUY rating is suggested. A price target cannot be accurately determined without detailed financial information on the deal. The time horizon is medium-term (12-18 months), allowing time for the acquisition to integrate and show results.

⚡ Flash Summary

Clover Pakistan Limited’s AGM voting results are in, revealing overwhelming shareholder support (99.9317%) for the resolution to acquire Company Owned Company Operated (COCO) Filling/Service Stations from its parent company, Fossil Energy (Private) Limited. A total of 12,412,630 shares/votes were cast, with only 8,483 votes against the acquisition, signaling strong confidence in management’s strategic direction. The acquisition will be undertaken at arm’s length and follows industry best practices. This strategic move is expected to enhance Clover Pakistan Limited’s market position and operational footprint.

📌 Key Takeaways

• ✅ Shareholders overwhelmingly approve the acquisition of COCO Filling/Service Stations.
• 📊 12,412,630 shares/votes were cast in total.
• 👍 99.9317% of votes were in favor of the resolution.
• ❌ Only 8,483 votes were cast against the acquisition.
• 🤝 Acquisition will be undertaken at arm’s length and adheres to industry standards.
• 🏢 Parent company Fossil Energy (Private) Limited is the seller.
• 📅 AGM held on October 28, 2025.
• 🗳️ E-voting was conducted from October 22-27, 2025.
• 📜 The board is authorized to negotiate and finalize the acquisition terms.
• 💼 Management is empowered to evaluate future COCO sites.
• ✍️ Any Director or Officer is authorized to execute necessary documents.
• 🌱 Strategic move to expand Clover Pakistan Limited’s operations.
• ⛽ COCO stations include those currently under construction.

🎯 Investment Thesis

Based on the strong shareholder support for the acquisition, and assuming the acquisition is strategically sound and financially prudent, a HOLD recommendation is warranted. A more definitive BUY/SELL rating requires a detailed financial analysis of the acquisition’s impact, which is currently unavailable. The price target will depend on the future profitability of the acquired COCO stations. Time horizon: Medium-Term (1-3 years).

⚡ Flash Summary

The minutes from Clover Pakistan Limited’s 39th Annual General Meeting, held on October 28, 2025, cover several key resolutions. These include the adoption of the prior meeting’s minutes, approval of the audited financial statements for the year ended June 30, 2025, and the reappointment of Messrs. Reanda Haroon Zakaria Aamir Salman Rizwan & Company as auditors for the financial year ending June 30, 2026. Most significantly, the shareholders approved the acquisition of all Company-Owned, Company-Operated (COCO) filling/service stations from Fossil Energy (Private) Limited, the parent company. This acquisition is expected to enhance Clover Pakistan’s strategic control and operational efficiency in the energy retail sector.

📌 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.