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Karachi, Lucky Core Industries Limited has announced that an Extraordinary General Meeting (EOGM) will take place on June 22, 2023, at Karachi, with the option for shareholders to participate via video-conferencing. The purpose of the EOGM is to discuss and approve a resolution regarding the increase of the company’s authorized share capital.
During the meeting, the company will adhere to the required quorum provisions and ensure compliance with all regulatory requirements. The proposed resolution aims to raise the authorized share capital of Lucky Core Industries Limited from PKR 15,000,000,000, divided into 1,500,000,000 ordinary shares of PKR 10/- each, to PKR 45,000,000,000, and divided into 4,500,000,000 ordinary shares of PKR 10 /- each. This will involve the creation of an additional 3,000,000,000 ordinary shares of PKR 10/- each.
To facilitate the implementation of the resolution, it is further proposed that the Memorandum of Association and Articles of Association of the company be amended accordingly. This amendment would involve changing the authorized share capital wherever it appears in these documents, reflecting the revised figure of PKR 45,000,000,000, divided into 4,500,000,000 ordinary shares.
In preparation for the EOGM, Lucky Core Industries Limited has also announced the closure of its Share Transfer Books. The books will be closed from June 15, 2023, to June 22, 2023, inclusively. During this period, shareholders will be unable to transfer their shares in the company.
The upcoming EOGM presents an important opportunity for Lucky Core Industries Limited to secure approval for the proposed share capital increase, providing potential benefits for the company’s future growth and development.