Tandlianwala Sugar Mills Limited Cancels Extraordinary General Meeting and Withdraws Proposed Increase in Authorized Share Capital

Karachi, In a surprising turn of events, Tandlianwala Sugar Mills Limited has announced the cancellation of its highly anticipated Extraordinary General Meeting (EOGM) scheduled for June 22, 2023, in Lahore. The decision comes after the Board of Directors, in their meeting held on June 16, 2023, decided to withdraw the proposed increase in the authorized share capital, which was originally put forward in their earlier meeting on May 31, 2023.

The proposed business, which aimed to increase the authorized share capital from Rs. 1,200,000,000 to Rs. 7,200,000,000, was a topic of significant interest and discussion among shareholders. However, the Board of Directors has now retracted their recommendation, leading to the cancellation of the EOGM.

With no other business to be transacted at the EOGM following the withdrawal of the proposed increase in authorized share capital, the Board made the decision to cancel the meeting altogether. This decision has left shareholders and stakeholders eager for more information regarding the reasons behind the withdrawal and the company’s future plans.

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