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Karachi, Lucky Cement Limited, a leading cement manufacturing company, announced the approval of a buy-back program for its shares during an Extraordinary General Meeting held on May 24, 2023.
The resolution passed in the meeting granted Lucky Cement Limited the authority to purchase and buy-back up to 23,800,000 (Twenty-Three Million Eight Hundred Thousand) issued ordinary shares of the company. These shares, with a face value of PKR 10/- (Pak Rupees Ten) each, constitute approximately 7.59% of the current issued and paid-up share capital of the company.
The buy-back process will be conducted through the securities exchange, and the purchase period is set to begin on June 2, 2023, and continue until November 20, 2023, or until the completion of the buy-back, whichever occurs earlier.