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Avanceon Limited Proxy Solicitation & Information Statement 2026
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Proxy Solicitation & Information Statement
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AVANCEON Tomorrow's solutions, today.
Regional Operations Centre
The Avanceon Building
19 km Main Multan Road
Lahore 54660 Pakistan
04 May 2026
AVN\PSX\AGM\02\04052026
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building
Stock Exchange Road
Karachi.
Subject: Notice of the Annual General Meeting
Dear Sir,
In accordance with Clause 5.6.9 of the PSX Rule Book, please find enclosed herewith notice of the Annual General Meeting ("AGM") of Avanceon Limited (the "Company"), scheduled to be held on Saturday, 23 May 2026.
The appended notice has been duly published in newspapers namely Business Recorder [English] and 92 News [Urdu] on Saturday, 02 May 2026, at least twenty-one (21) days prior to the date of AGM.
You may please inform the TRE Certificate Holders of the Exchange accordingly.
Yours Sincerely,
Faisal Nadeem Sheikh | Company Secretary
www.avanceon.ae | Enquiries: [email protected]
AVANCEON
AVANCEON LIMITED
NOTICE OF 23th ANNUAL GENERAL MEETING
Notice is hereby given that the 23rd Annual General Meeting of Assurance Limited "Company" will be held on Saturday, 23 May 2020 at 02:00 PM, at The Motor Hotel, Grand Hypnotic Hall, 8 A. E. Thais, Galloway St, Main Motorhead, Rd Stuart Road, Labour, to transact the following business:
A. DECEMBER 15/2010/21
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To confirm the invoice of the Annual General Meeting held on 20 April 2021.
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To receive, consider and adopt the Attendance and Consultation Audited Financial Statements of the Company for the year ended 31 December 2021 together with the Director's and Auditor's Reports (hereon) and Chairman's Review Report.
As required under section 223(a) of the Company Act 2017 and 5 F.C.I. No. 0855/2013 dated 21 March 2021/Financial Statements of the Company have been uploaded on the website of the Company which can be downloaded from the following website: https://www.avanceon.archiveset.com/financial/.
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To appoint Auditor as Vice-Company and his best remuneration, The Members are hereby notified that the Board Audit Committee on the Board of Directors have recommended the name of NO. 1/never-Record-1/Exudate. 2.3.1.3. Declared Accountants for re-appointment as auditors of the Company are the same ending 31 December 2019.
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To consider and approve, an recommended by the Board of Directors, the payment of a final cash dividend at the rate of 1%. (c) (LEA) for the year ended 31 December 2021.
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A request to the Assurance and Exchange Commission of National Circular No. 31 of 2020 dated 08 January 2020, companies are permitted to hold the election of director at the AABF P No. 400404 in Aay within thirty days after the date of the AABF, Accordingly, the company shall proceed under: Seven (10) directors of the Company for a term of three years commencing from 20 May 2020, in accordance with the provisions of Section 129 of the Companies Act, 2017, and the Memorandum and Articles of Association. The names of nothing Direction are as orders.
-
Mr. Matthew Howard Main
- Mr. Michael David Black
- Mr. John W. H. Hines
- Mr. Thomas Fairchild
B. 10th ANNUAL AGENCY
The 10th Annual Annual Report, the Authorized Capital of the Company for increased from Rs. 1,000,000,000 (Rupees Five Million and) divided into 500,000,000 (Five Hundred Million) of the nominal value of Rs. 23rd (Rupees Ten and) in arrears shown to Rs. 7,200,000,000 (Rupees Seven Million) for industrial fifties and/or divided into 750,000,000 (Seven Hundred Fifty Million) of the nominal value of Rs. 103rd (Rupees Ten and) in arrears shown.
and that
a) 18/22/2020 that the Clause V of the Memorandum of Association of the Company for and is hereby amended to read as follows:
The authorized agent of the company is Rs. 7,500,000,000 (Rupees Seven Million Five Hundred Million One) divided into 750,000,000 (Seven Hundred Fifty Million) dollars shown of Rs. 103rd (Rupees Ten and) and the power to increase cash above the capital and to divide the shares in the capital for the time being into several classes in accordance with the provisions of the Companies Act, 2017.
b) 14/22/2020 that the Article 5 of the Articles of Association of the Company for and is hereby amended to read as follows:
The authorized share capital of the Company is Rs. 7,500,000,000 (Rupees Seven Million Five Hundred Million One) divided into 750,000,000 (Seven Hundred Fifty Million) dollars shown of Rs. 103rd (Rupees Ten and) and the price to increase, consolidate, sub-divide, count, reduce or otherwise reorganize the share capital of the Company subject to the provisions of Section 65 and 69 of the Act.
C. MINIMUM 10 A. 2019
Based at 10 o'clock of the Annual General Meeting of Assurance Limited, the 2019 Annual General Meeting of Assurance Limited is held in the following places:
- Awaya, 10th Avenue, 1st Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th
The 10th Annual Annual Report is the 10th annual report of the Company's 10th annual report. The report is for the period 10/1/2019 to be submitted in the following manner:
D. ANNUAL REPORT OF THE 2019
E. 2019 Annual Report
The Annual report of the Company is the report of the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report of the Company, the Annual Report for and from the 10th Annual Report of the Company, the Annual Report for and from the Annual Report for and from the Annual Report for and from the Annual Report for and from the Annual Report for and from the Annual Report for and from the Annual Report for and from the Annual Report for
F. ANNUAL REPORT OF THE 2018
G. ANNUAL REPORT OF THE 2018
H. ANNUAL REPORT OF THE 2017
I. ANNUAL REPORT OF THE 2017
J. ANNUAL REPORT OF THE 2017
K. ANNUAL REPORT OF THE 2017
L. ANNUAL REPORT OF THE 2017
M. ANNUAL REPORT OF THE 2017
N. ANNUAL REPORT OF THE 2017
O. ANNUAL REPORT OF THE 2017
P. ANNUAL REPORT OF THE 2017
Q. ANNUAL REPORT OF THE 2017
R. ANNUAL REPORT OF THE 2017
S. ANNUAL REPORT OF THE 2017
T. ANNUAL REPORT OF THE 2017
U. ANNUAL REPORT OF THE 2017
U. ANNUAL REPORT OF THE 2017
STATEMENT(S) UNDER OCTOBER 1962) OF THE COMMANDS ACT, 2017
This Statement is annexed to the Notice of the 12th Annual General Meeting of Assessors Limited to be held on Saturday, 13 May 2016 at which certain Special Business is to be transacted. The purpose of this Statement is to act forth the material facts concerning such special business.
FORM 630-0420006
The Board of Directors' or their meeting held on 30 April 2016 approved the increase in outbursts shown above of the company to Rs. 7,500,000,000 (Rupees) (lower Officer from hundred million (Grip) divided into 750,000,000 (lower thousand (Fib) Millions) of the nominal value of Rs. 10/100 (Rupees) for each ordinary share). This current increase in outbursts against a approved or anticipate any increase in issue of shares on the total outbursts (ashed of the company is 30,50% issued, peak-up and subscribed).
The Directors of the Company have no personal interest in the increase of outbursts (Share Capital whether directly or indirectly except to the extent of the shareholding held by them in the Company.
FORM 712F-0420009
In order to streamline the holding structure of Assessors group and enhance the quality and efficiency levels of all our current and upcoming projects in the Region of States; the Board has decided to consented "Long-term interest-free receivable" from Assessors Automated at Central W.L.L., State in 49th holding with 100% controlling rights subsidiary of the Company), into equity investment as capital contribution being classified as "Investment in Subsidiary".
| Regulation No. | Regulation | Proposal |
|---|---|---|
| H1(b) | Disclosure for all types of investments | |
| H1(b)(4) | Reporting associated company or associated undertaking: | |
| 01 | name of associated company or associated undertaking: | Assessors Automated and Central W.L.L. (Sales) |
| 05 | base of relationship: | 49th holding with 100% controlling rights subsidiary |
| 09 | earnings per share for the last three years; (Base & Dilated): | 2025 Rs. 6.36 m |
| 2024 Rs. 5.68 m | ||
| 2025 Rs. 3.12 m | ||
| 04 | break-up value per share, based on latest audited financial statements; | 2025 Rs. 10.40 m |
| 2024 Rs. 10.40 m | ||
| 05 | financial position, including main items of statement of financing position and profit and loss account on the basis of its latest financial statements; and | Main items of Statement of Financial Position |
| Rs. m 568 | ||
| Non-current Assets | ||
| Rs. m 568 | ||
| Current Assets | ||
| Current Assets | ||
| 102,073,934 | ||
| Total Assets | 2,865,039 | |
| 06 | Non-current Liabilities | 153,175 |
| 07 | Current Liabilities | 7,352,610 |
| 04 | in case of investment in relation to a project of associated company or associated undertaking that has not be commenced operations, followed by further information, namely, | N.A. |
| H1(b)(8) | General disclosures: | |
| 01 | maximum amount of investment to be made: | Rs. 1,631,186,500 |
| 05 | purpose, benefits likely to accrue to the investing company and its members from such investment and period of investment; | The investment will enhance the equity investment as capital contribution in the Subsidiary Company with the amount of proposed investment. |
| 09 | source of funds to be utilized for investment and where the investment is intended to be made using borrowed funds; | (1) N.A. |
| 01 | (2) justification for investment through borrowing; | (2) N.A. |
| 05 | (3) detail of collateral, guarantees provided and assets pledged for obtaining such funds; and | (3) N.A. |
| 06 | (4) cost benefit analysis; | (4) N.A. |
| 04 | advert features of the agreement(s), if any, with associated company or associated undertaking with regards to the proposed investment; | Long-term interest-free receivable outstanding as of 31 December 2015 which are payable on the discretion of the company and its members for capital contribution. |
| 05 | direct or indirect interest of directors, sponsors, majority shareholders and their relatives, if any, in the associated company or associated undertaking or the thereafter under consideration; | None of the directors, sponsors, majority shareholders and their relatives have any interest in the associated company or proposed transaction. |
| 04 | in case any investment in associated company or associated undertaking through labor made, the performance review of such investment including complete information/justification for any organization or write-offs; and | None |
| 04 | any other important details necessary for the members to understand the transaction; | None |
| H1(b) | In case of equity investment | |
| 01 | maximum price at which securities will be acquired; | Rs. 1,613,198,300 |
| 05 | in case the purchase price is higher than market value in case of listed securities and fair value in case of unlisted securities, justification thereof; | N/A |
| 09 | maximum number of securities to be acquired; | Expiration to the amount of investment as per the determinations in Sales for respective company. |
| 04 | number of securities and percentage thereof held before and after the proposed investment; | Before Investment: 200 shares @ Rs. 76,900 each. 49th holding with 100% controlling rights subsidiary. |
| 05 | in case of an operating hevele wester weighted average market price where investment is proposed to be made in listed securities; | After Investment: 200 shares @ Rs. 76,900 each. 49th holding with 100% controlling rights subsidiary. |
| 04 | current and preceding hevele wester weighted average market price where investment is proposed to be made in listed securities; | N/A (New Listed Company) |
| 04 | fair value determined in terms of sub-regulation (1) of regulation 5.4; investments in unlisted securities | Insurance Contingency and Capital: W.L.L. (Sales) is an unlisted entities (transfer on fair value is available, the same can be determined through the break-up values of the share). |
| H1(b) | In case of investments in the form of loans, advances, and guarantees following disclosure in addition to those provided under clause (a) of sub-regulation (i) of regulation 1 shall be made, - | N/A |
| HII | Due Offgrown | |
| 01 | Other information to be disclosed to the members | |
| H1) | If the associated company or associated undertaking or any of its sponsors or directors is also a member of the investing company and its members, the amount of associated company or associated undertaking and its sponsors and directors in the investing company shall be disclosed in the whole of general meeting called for seeking members' approval pursuant to section 399 of the Act. | The associated company is 49th holding with 100% controlling rights subsidiary directly or indirectly. |
| H2) | in case any decision to make investment under the authority of resolution passed pursuant to provisions of section 385 of the Act is no fully implemented in line with the approval of members till the holding of subsequent general meeting, the status of the decision shall be explained to the members through a statement having the following details namely, - | N/A |
| 01 | (a) total investment approved; | |
| 01 | (a) amount of investment made to date; | |
| 01 | (i) reasons for deviations from the approved timeline of investment, where investment decision was to be implemented in specified time; and | |
| 01 | (d) material change in financial statements of associated company or associated undertaking since date of the resolution passed for approval of investment. | |
| HII) | Latest annual audited financial statements of the associated company or associated undertaking along with the latest interim financial statements, if any, shall be made available for inspection of the members in the general meeting called for considering investment decisions in such associated company or associated undertaking pursuant to section 399 of the Act. | Latest annual audited financial statements and latest interim financial statements are available at company's registered office and shall be made available for inspection to the members in the meeting. |
Pursuant to requirements of Section 399 of the Company Act 2017, the documents referred including the Agenda(s) and resolution(s) are available at the registered office of the Company and can be inspected during office hours.
AVANCEON AVANCEEON LIMITED
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| مردہ | رسمے پر | کمپری |
|---|---|---|
| 3(1)ہ | 1375 | 1375 |
| 3(1)ہ(4) | 1375 | 1375 |
| Accession: Automation & Control W.L.L. (Dated) | 1375 | 1375 |
| 1 | 1375 | 1375 |
| 161 | 1375 | 1375 |
| 1 | 1375 | 1375 |
| 161 | 1375 | 1375 |
| 1 | 1375 | 1375 |
1375