Fast Cables Seeks Approval for Rs. 1 Billion Capital Plan

Fast Cables Limited has proposed a capital plan worth more than Rs. 1 billion, with the company seeking shareholder approval to use surplus funds for working capital and sell its Lahore factory building.

The proposals were put forward by the board of directors of Fast Cables Limited, which is listed on the Pakistan Stock Exchange under the ticker PSX: FCL.

Under the plan, the company intends to utilize Rs. 747.763 million from its surplus funds for working capital requirements. The proposed allocation is aimed at supporting the company’s ongoing business and operational needs.

In addition to the use of surplus funds, Fast Cables has proposed selling its factory building located in Lahore for a minimum consideration of Rs. 300 million.

Combined, the proposed use of surplus funds and the minimum value of the property sale represent more than Rs. 1 billion in capital-related measures.

The proposals are scheduled to be presented to shareholders at Fast Cables’ annual general meeting on October 22, 2026. The company will require the relevant shareholder approval before proceeding with the proposed transactions.

The working capital component is particularly relevant for the company’s ongoing operations because businesses use working capital to manage short-term requirements such as inventory, receivables and other operational expenses.

The proposed sale of the Lahore factory building would be a separate asset-related transaction. The board has proposed a minimum sale price of Rs. 300 million, with the transaction subject to the required corporate approval and applicable procedures.

Fast Cables is a manufacturer listed on the Pakistan Stock Exchange, and its business activities include the production and sale of cables and related electrical products. The company’s financial and operational decisions are therefore closely followed by investors in the local capital market.

The annual general meeting will give shareholders an opportunity to consider the board’s proposals. The outcome of the meeting will determine whether the proposed use of surplus funds and the property transaction receive the required approval.

For investors tracking PSX-listed companies, the proposals are significant because they involve both the allocation of existing funds and the potential disposal of a company asset.

The company has set October 22, 2026, as the date for the annual general meeting where shareholders will consider the proposals. Further details regarding the implementation of the transactions will depend on the decisions taken at the meeting and subsequent corporate actions.

Fast Cables’ proposed plan therefore combines an allocation of Rs. 747.763 million toward working capital with a proposed sale of its Lahore factory building for at least Rs. 300 million.

Shareholders will now review the proposals at the upcoming annual general meeting before the company can proceed with the planned capital and asset-related measures.