KSB Pumps Increases Authorized Capital at 67th Annual General Meeting

Lahore, At the 67th Annual General Meeting of KSB Pumps Company Limited held on April 23, 2024, shareholders approved a significant increase in the company’s authorized share capital and re-appointed auditors. The meeting, conducted at the company’s registered office on Sir Agha Khan Road, also endorsed the financial statements for the year ended December 31, 2023.

During the meeting, shareholders confirmed the minutes of the previous annual general meeting held in April 2023. Additionally, the audited annual financial statements and the reports from the company’s directors and auditors were formally adopted.

A key resolution passed at the meeting was the reappointment of M/s. A.F. Ferguson & Co. as the company’s auditors. They will serve until the next annual meeting.

In a major corporate development, shareholders approved an increase in KSB Pumps’ authorized share capital from PKR 150 million to PKR 450 million, which entails creating 30 million new ordinary shares. This resolution also included updates to the company’s Memorandum and Articles of Association to reflect the new share capital structure.

The meeting authorized the Chief Executive Officer and Company Secretary to handle all necessary actions for implementing these resolutions, including legal compliance and filings with the Securities and Exchange Commission of Pakistan.