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Karachi, In an emergent board meeting held through an online platform, Crescent Steel and Allied Products Limited announced a significant decision regarding the company’s capital structure. The Board of Directors has approved an increase in the authorized share capital from Rs. 1 billion to Rs. 5 billion, pending the approval of shareholders.
The decision to increase the authorized capital was made with the aim of providing the company with enhanced financial flexibility to support its future growth plans. By expanding the capital base, Crescent Steel and Allied Products Limited will be better positioned to undertake strategic initiatives and capitalize on emerging opportunities in the market.
To formalize the increase in authorized capital, an Extraordinary General Meeting (EOGM) has been scheduled to take place on Wednesday, June 21, 2023, at 11:00 a.m. The venue for the EOGM is CorpTec Associates (Private) Limited, located at Lahore.
The Share Transfer Books of Crescent Steel and Allied Products Limited will remain closed from June 15, 2023, to June 21, 2023, inclusive. Share transfers received by the close of business on June 14, 2023, at the offices of the company’s Share Registrar, M/S CorpTec Associates (Private) Limited, will be considered timely and allow shareholders to attend, speak, and vote at the EOGM.