Ghandhara Industries Limited to Allow Electronic Voting for Share Capital Increase Proposal

Karachi, Ghandhara Industries Limited has announced that its members will be able to exercise their right to vote through electronic voting or voting by post in the upcoming Extraordinary General Meeting. The meeting is scheduled to take place on Thursday, June 22, 2023.

One of the key agenda items is the proposed increase in the authorized share capital of the company. Currently, the authorized share capital stands at PKR 1,000,000,000 divided into 100,000,000 ordinary shares of PKR 10 each. To provide the company with greater flexibility for future share issuances, including rights and bonus offerings, Ghandhara Industries Limited aims to raise the share capital to PKR 2,500,000,000. This would be achieved by creating an additional 150,000,000 ordinary shares of PKR 10 each, which will rank pari passu with the existing shares.

The proposed increase in share capital will require amendments to the Memorandum of Association and Articles of Association of the company. The Board of Directors has recommended the necessary alterations to reflect the updated authorized share capital.