Karachi February 21 2025: Lucky Cement, the largest cement manufacturer of Pakistan, has decided to issue 5 shares for one share to it’s shareholders, according to the company to the Pakistan Stock Exchange.
The Board of Directors of Lucky Cement Limited in their meeting held on February 20, 2025 have considered and recommended the following, for approval of the shareholders of the Company, in the upcoming Extraordinary General Meeting:
- Sub-division of Shares: To sub-divide the face value of Shares of the Company from Rs10 – to Rs. 2/- per
share, in accordance with Section 85(1)(c) of the Companies Act 2017, in the ratio of 5 shares for each 1 share held. - Amendment to Memorandum of Association: To amend Clause V of the Memorandum of Association to reflect the proposed sub-division of shares.
The Board of Directors expresses its gratitude to the Shareholders for their continued trust since the Company’s inception. Over the years, the decisions taken have generated exceptional value for Shareholders, as reflected in the Company’s current market share price. To further enhance shareholder value and broaden investor participation, the Board has proposed the above sub-division, making the Company’s shares more accessible to a variety of investors and sharing the success achieved over the years with them.
For information of the Shareholders, once approved in the EoGM, the existing subscribed and paid-up capital of the Company, currently at 293,000,000 ordinary shares of Rs. 101- each, will be sub-divided into 1,465,000,000 ordinary
shaLres of Rs. 2/- each.
Consequently, the eligible shareholders of the Company will receive 5 shares in place of every1 share held as of the date of Determination (to be announced subsequent to the EoGM).
The Board has resolved to convene an Extraordinary General Meeting (“EoGM”) of the Shareholders on Tuesday, March 18, 2025 at 12:00 noon at the registered office of the Company situated at Main Indus Highway, Pezu, District Lakki Marwat, Khyber Pakhtunkhwa and through video link, to seek approval from the Shareholders for the aforementioned matter.
