Lucky Cement Limited Executes Buy-Back of Shares in Accordance with Extraordinary General Meeting Resolution

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Karachi, In a move aligned with its business strategy, Lucky Cement Limited has successfully carried out the purchase of its own shares, as stipulated by the Special Resolution endorsed during the Extraordinary General Meeting convened on May 24, 2023. The company, in compliance with Regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019, has revealed the specifics of this transaction.

According to the provided information, on August 29, 2023, during the PSX trading session, Lucky Cement Limited repurchased a total of 412,601 of its own shares. The weighted average price per share stood at PKR 584.95. This strategic move demonstrates the company’s commitment to enhancing shareholder value and confidence in its financial prospects.

The decision to buy back its own shares was made with careful consideration and was anchored in the resolution sanctioned during the Extraordinary General Meeting earlier in the year. This move reflects the company’s confidence in its financial strength, growth trajectory, and its ability to generate value for its shareholders.

Lucky Cement Limited’s prudent financial management and willingness to engage in such strategic actions have been key to maintaining a strong market presence. The buy-back initiative not only showcases the company’s commitment to bolstering shareholder interests but also signifies its proactive approach to capital optimization.

With this buy-back, Lucky Cement Limited continues to strengthen its position in the market, leveraging its financial resources to create long-term value for both the company and its stakeholders. The move also highlights the company’s agility in responding to market dynamics and optimizing its capital structure.

As Lucky Cement Limited moves forward, this buy-back of shares stands as a testament to the company’s dedication to sustainable growth, financial resilience, and shareholder satisfaction.

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