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KARACHI, Lucky Cement Limited, a prominent player in the cement industry, has successfully executed its share buy-back plan, demonstrating its commitment to enhancing shareholder value. In accordance with Regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019, the company has provided details of the recent purchase.
On August 7, 2023, during the PSX trading session, Lucky Cement Limited carried out the buy-back of its own shares. The company acquired a total of 238,298 shares through this initiative. The weighted average price per share stood at PKR 604.84.
This buy-back operation is in alignment with the Special Resolution passed during the Extraordinary General Meeting held on May 24, 2023. The move signifies the company’s strategic approach to utilize its resources efficiently and capitalize on opportunities in the market.
Lucky Cement’s decision to buy back its shares underlines its confidence in its financial health and growth prospects. The share buy-back is expected to positively impact the company’s capital structure and overall shareholder value.
The execution of this share buy-back plan is another milestone for Lucky Cement, reaffirming its position as a market leader and showcasing its commitment to delivering value to its shareholders.
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