AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a recent meeting held in Islamabad on June 3, 2023, the Board of Directors of a prominent Pakistan Services Limited made significant recommendations for the company’s future. The board proposed the following measures, subject to the approval of the company’s members:
1) Increase in Authorized Share Capital: The board recommended an increase in the company’s Authorized Share Capital from Rs. 2,000,000,000, divided into 200,000,000 ordinary shares of Rs.10 each, to Rs. 8,000,000,000, divided into 800,000,000 ordinary shares of Rs. 10 each. This decision aims to provide the company with additional resources for its future growth and expansion.
2) Amendments to Articles of Association: The board also suggested alterations to Article nos. 101 & 102 of the Articles of Association, specifically relating to the capitalization of any sum or sums from reserves, undistributed profits, or other accounts of the company. These changes will require the approval of the company’s members.
3) Extraordinary General Meeting (EOGM): An EOGM of the company’s members has been scheduled for Tuesday, June 27, 2023, at 11:00 a.m., to discuss and approve the aforementioned recommendations. The meeting will take place at the Islamabad Marriott Hotel. In preparation for the EOGM, the Share Transfer Books of the company will remain closed from June 21, 2023, to June 27, 2023.
4) Notice of EOGM: The notice of the Extraordinary General Meeting will be disseminated within the stipulated time through PUCARS, ensuring that all members of the company are informed about the meeting and its agenda.
These proposals reflect the company’s strategic vision for growth and development. Members of the exchange are advised to stay informed about the upcoming EOGM and be prepared to cast their votes on these crucial matters that will shape the company’s future trajectory.