Prosperity Weaving Mills Limited to Hold Extraordinary General Meeting to Increase Authorized Capital

Karachi, Prosperity Weaving Mills Limited has announced that an Extraordinary General Meeting will be held today at its headquarters in Lahore, as well as through a video conferencing facility, to address important matters concerning the company’s future growth.

The meeting will begin by confirming the minutes of the previous Extraordinary General Meeting held on January 26, 2023. Once the minutes are approved, the shareholders will move on to the main agenda of the meeting.

The primary agenda item is to consider a special resolution aimed at increasing the authorized capital of the company. The proposed resolution states that the authorized share capital will be raised from Rs. 200,000,000 to Rs. 2,200,000,000 by creating 200,000,000 ordinary shares valued at Rs. 10 each. It is important to note that any new shares issued in the future will rank equally with the existing shares.

These changes will reflect the updated authorized capital and its division into 220,000,000 ordinary shares valued at Rs. 10 each. The Share Transfer Books of Prosperity Weaving Mills Ltd. will remain closed from June 16, 2023, to June 20, 2023, both days inclusive.