Lucky Cement Limited Announces Plans for Capital Expansion and Bonus Share Issuance

Karachi, Lucky Cement Limited, a prominent player in the Pakistani stock market, has disclosed crucial information that could potentially impact its shareholders. In a recent board meeting held on June 1, 2023, the company's directors recommended several significant measures to propel its growth and enhance shareholder value.

Firstly, the Board of Directors proposed a substantial increase in the Authorized Share Capital of Lucky Cement Limited. The current authorized capital of PKR 5,000,000,000/- (Pak Rupees Five Billion) would be raised to PKR 125,000,000,000/- (Pak Rupees One Hundred Twenty Five Billion). This increase would result in the division of shares from 500,000,000 ordinary shares of PKR 10/- each to 12,500,000,000 ordinary shares of PKR 10/- each. The proposed alteration to the Memorandum of Association of the Company is subject to the approval of shareholders during an Extraordinary General Meeting (EOGM) to be held on June 26, 2023.

Additionally, Lucky Cement Limited aims to empower its Board of Directors to capitalize on sums derived from reserves, undistributed profits, or other accounts of the company. This proposed alteration in the Articles of Association would grant the board the authority to capitalize on these funds, ensuring the effective utilization of resources.

Moreover, the board also recommended the issuance of bonus shares. If approved by the shareholders, Lucky Cement Limited would distribute bonus shares from its reserves or undistributed profits. This move intends to reward existing shareholders by increasing their ownership stake in the company.

To seek approval for these proposed measures, an Extraordinary General Meeting has been scheduled for June 26, 2023. The meeting will be held at Khyber Pakhtunkhwa and accessible via video link to facilitate broader participation from shareholders. In preparation for the EOGM, the share transfer book of the company will remain closed from June 19, 2023, to June 26, 2023.

Sunrays Textile Mills Calls Extraordinary General Meeting to Discuss Increase in Authorized Capital

Karachi, Sunrays Textile Mills Limited has announced an Extraordinary General Meeting to be held in Karachi on Saturday, June 24, 2023, at 11:30 a.m. The primary agenda of the meeting is to discuss and vote on several important matters, including the confirmation of minutes from the previous Annual General Meeting and the consideration of special resolutions related to the increase in authorized capital of the company.

The first item on the agenda is the confirmation of minutes from the 31st Annual General Meeting held on October 27, 2022. This is a standard procedure to ensure accuracy and transparency in the company's records.

The second item on the agenda holds significant importance as it involves special resolutions related to the increase in authorized capital. The proposed resolution states that the authorized capital of Sunrays Textile Mills Limited should be increased from Rs. 500,000,000/- to Rs. 8,000,000,000/-. This increase will allow the company to expand its operations and undertake larger-scale projects in line with its growth strategy. The resolution also grants the company the power to adjust, divide, or reorganize its capital in accordance with the Companies Act, 2017, and relevant regulations.

In addition to the specified agenda items, the meeting will also address any other ordinary business matters with the permission of the Chair. This provides an opportunity for shareholders to discuss and raise concerns regarding the company's operations, performance, or any other relevant issues.

Furthermore, the announcement indicates that the share transfer books for ordinary shares of Sunrays Textile Mills Limited will be closed from June 18, 2023, to June 24, 2023, inclusive. During this period, shareholders will be unable to transfer their shares, ensuring a clear record of ownership during the decision-making process.

The Extraordinary General Meeting presents a crucial opportunity for shareholders to participate in shaping the future of Sunrays Textile Mills Limited. The increase in authorized capital will not only bolster the company's financial standing but also pave the way for potential expansion and diversification in the textile industry.

Kohat Cement Company Limited Executes Share Buy-Back Plan, Acquiring 80,519 Shares at an Average Price of PKR 159.13

Karachi, Kohat Cement Company Limited recently completed the purchase of its own shares as part of a buy-back plan. The transaction took place through the Pakistan Stock Exchange Limited, and the company procured 80,519 shares on June 1, 2023, at an average price of PKR 159.13 per share.

The buy-back initiative aligns with the special resolutions passed during an extraordinary general meeting held on February 21, 2023. Kohat Cement Company Limited's decision to repurchase its own shares demonstrates the management's confidence in the company's growth potential and its commitment to creating value for shareholders.

By acquiring a substantial number of shares, Kohat Cement Company Limited aims to optimize its capital structure and enhance shareholder value. Share buy-backs are an effective mechanism utilized by companies to signal confidence in their financial performance and utilize surplus cash reserves.

Kohat Cement Company Limited, a prominent player in the cement industry, has consistently demonstrated its commitment to quality, innovation, and sustainability. With this strategic move, the company aims to fortify its market presence, reinforce investor confidence, and maximize returns for its shareholders.

The stock market response to the buy-back was positive, with Kohat Cement Company Limited's shares witnessing a slight increase following the announcement. Market analysts anticipate that this move will have a favorable impact on the company's overall market performance and investor sentiment in the coming months.

First Elite Capital Modaraba Director Muhammad Javed Amin Purchases 4,000 Shares at 3.04 Rate

Karachi, In a recent disclosure of interest, Muhammad Javed Amin, a Non-Executive Director of First Elite Capital Modaraba, has executed a transaction involving the purchase of shares in the company. The details of the transaction are as follows:

On June 1, 2023, Muhammad Javed Amin made a BUY transaction, acquiring 4,000 shares of First Elite Capital Modaraba. The shares were purchased at a rate of 3.04. The form of share certificates used for the transaction was CDC (Central Depository Company), and the shares were acquired through the Ready market.

This disclosure sheds light on the active participation of a director in the company's stock, highlighting their confidence in the future prospects of First Elite Capital Modaraba. Such transactions by company insiders often serve as indicators for investors, providing insight into the company's growth potential.

Synthetic Products Enterprises Limited Executes Buy-Back of 5,500 Shares at an Average Price of PKR 10.59

Karachi, In a move to reinforce its market position, Synthetic Products Enterprises Limited has successfully completed the buy-back of its own shares through the Pakistan Stock Exchange Limited. The acquisition was carried out on June 1, 2023, with a total of 5,500 shares repurchased at an average price of PKR 10.59 per share.

Synthetic Products Enterprises Limited's decision to repurchase its own shares indicates the company's confidence in its future prospects and the belief that the shares are undervalued. The buy-back initiative allows the company to enhance shareholder value and consolidate its position in the market.

This strategic move by Synthetic Products Enterprises Limited aligns with its commitment to maximizing shareholder returns and capitalizing on market opportunities. The buy-back will lead to a reduction in the number of outstanding shares in circulation, potentially boosting earnings per share and increasing shareholder value.

The successful execution of this buy-back initiative highlights Synthetic Products Enterprises Limited's financial strength and its commitment to creating value for its stakeholders. It is anticipated that this move will have a positive impact on investor confidence and further strengthen the company's position in the market.

With this buy-back, Synthetic Products Enterprises Limited has demonstrated its proactive approach towards enhancing shareholder value and its dedication to long-term growth and profitability. The company's management remains optimistic about its future prospects and is actively pursuing strategies to capitalize on emerging market trends and opportunities.

Habib Rice Products Limited Announces Emergent Board Meeting to Discuss Increase in Authorized Share Capital

Karachi, Habib Rice Products Limited has called for an emergent board meeting scheduled to take place on June 3, 2023, in Karachi. The main agenda of the meeting will be to deliberate upon the proposal to increase the authorized share capital of the company.

To comply with the regulations set by the Pakistan Stock Exchange (PSX), Habib Rice Products Limited has declared a "Closed Period" from June 2, 2023, to June 3, 2023. During this period, insiders, including directors, CEO, and other executives, are prohibited from trading the company's shares. The company has already issued notices to the concerned parties to ensure strict adherence to this restriction.

By increasing the authorized share capital, Habib Rice Products Limited aims to enhance its financial flexibility and support its strategic growth initiatives. This decision signifies the company's commitment to expanding its market presence and further strengthening its position within the rice products industry.

Faran Sugar Mills Calls Extraordinary General Meeting to Approve Increase in Authorized Share Capital

Karachi, Faran Sugar Mills Limited has announced an Extraordinary General Meeting to be held on June 22, 2023, in Karachi. The meeting aims to address important matters concerning the company's future operations.

The agenda of the meeting includes both ordinary and special business. Firstly, the shareholders will review and confirm the minutes of the Annual General Meeting held on January 27, 2023. Subsequently, they will focus on the special business, which involves considering an increase in the authorized share capital of the company.

The proposed resolution, recommended by the Board of Directors, suggests an increase in the authorized share capital from Rs. 400,000,000/- (Rupees Four Hundred Million only) to Rs. 2,400,000,000/- (Rupees Two Billion Four Hundred Million only). This increase would be achieved by creating 200,000,000 ordinary shares of Rs. 10/- each, which will rank pari passu with the existing ordinary shares of the company. The memorandum and articles of association of Faran Sugar Mills Limited would also be modified accordingly.

Furthermore, it has been decided that the Share Transfer Books of the company will remain closed from June 16, 2023, to June 22, 2023 (both days inclusive) due to the proposed alterations.

GlaxoSmithKline Pakistan Limited Appoints Agha Salman Taimur as New Company Secretary Following Resignation of Mehar-e-Daraksha Ameer

Karachi, In a recent development, GlaxoSmithKline Pakistan Limited announced a change in its company secretary as Ms. Mehar-e-Daraksha Ameer resigned from her position. The resignation, effective from May 30, 2023, was accepted by the company's Board of Directors.

Taking over the responsibilities as the new Company Secretary, effective from June 2, 2023, is Mr. Agha Salman Taimur. The decision to appoint Mr. Taimur was made by the Board of Directors.

The appointment of Mr. Agha Salman Taimur brings a wealth of experience and expertise to the position. His extensive knowledge of corporate governance and company law is expected to further strengthen GlaxoSmithKline Pakistan Limited's operations.

The change in the company secretary position reflects GlaxoSmithKline Pakistan Limited's commitment to ensuring a smooth transition and continuity in its corporate governance. With Mr. Taimur at the helm, the company aims to continue its growth trajectory and maintain its position as a leading pharmaceutical company in Pakistan.

Modaraba Al-Mali Completes Directors’ and Substantial Certificate-holders’ Subscription, Deposits Rs. 13,058,800 in Designated Bank Accounts

Karachi, Modaraba Al-Mali has announced today the successful completion of the subscription process for the Directors and Substantial Certificate-holders of the company. An impressive amount of Rs. 13,058,800 has been deposited into the designated bank accounts, marking a significant milestone for the organization. This development took place on June 2, 2023.

The subscription money, as specified in the company's right entitlements, has been promptly transferred to the accounts maintained with the designated banker(s). Modaraba Al-Mali expresses its satisfaction with the smooth completion of this crucial phase, highlighting its commitment to providing value to its stakeholders.

In line with regulatory requirements, the company is in the process of obtaining an Auditors Certificate to confirm the successful deposit of the subscription money. This certificate will be submitted to the appropriate authorities in due course. Modaraba Al-Mali emphasizes its dedication to adhering to transparent and accountable practices, ensuring the integrity of its financial operations.

The completion of the Directors' and Substantial Certificate-holders' subscription is a positive step for Modaraba Al-Mali, signifying the confidence of its stakeholders in the company's prospects. The funds raised through this subscription will contribute to the further growth and expansion of the institution, allowing it to continue offering innovative financial solutions to its valued clients.

Modaraba Al-Mali remains committed to delivering excellence in its operations, maintaining trust with its investors, and upholding its position as a leading player in the financial industry.

Glaxosmithkline Pakistan Limited Announces Change of Company Secretary

Karachi, Glaxosmithkline Pakistan Limited, a leading pharmaceutical company, recently made a significant announcement regarding a change in their company secretary. Ms. Mehar-€ -Daraksha Ameer, who had been serving as the Company Secretary, has ceased to hold the position effective from 2023-0S.JO.

The decision to part ways with Ms. Ameer as the Company Secretary was made as part of the company's strategic restructuring plan. While no specific details were provided regarding the reasons behind this change, it is believed that it is a part of GlaxoSmithKline’s ongoing efforts to enhance its corporate governance framework and optimize operational efficiency.

Replacing Ms. Ameer, Glaxosmithkline Pakistan Limited has appointed Mr. Agha Salman Taimur as the new Company Secretary. Mr. Taimur brings a wealth of experience and expertise to the role, having previously served in various high-level positions in the corporate sector.

As the new Company Secretary, Mr. Taimur will be responsible for ensuring compliance with regulatory requirements, overseeing corporate governance matters, and maintaining effective communication with stakeholders. His appointment is expected to contribute to the company's continued growth and success in the highly competitive pharmaceutical industry.

Glaxosmithkline Pakistan Limited expressed their gratitude to Ms. Ameer for her contributions during her tenure as the Company Secretary. The company also extended a warm welcome to Mr. Taimur, expressing confidence in his abilities to fulfill the responsibilities of the position effectively.

Agriauto Industries Limited Announces Partial Shutdown in June 2023

Karachi, Agriauto Industries Limited has announced a partial shutdown during the month of June 2023. The decision comes in response to a reduction in production volumes from their major customers. The company's wholly owned subsidiary, Agriauto Stamping Company (Pvt.) Limited, will also observe a partial shutdown during the same period due to the aforementioned reasons.

The temporary closure is a strategic move by Agriauto Industries Limited to align its operations with the current market conditions and customer demands. The reduction in production volumes from their major customers has prompted the company to adjust its manufacturing capabilities accordingly.

During the partial shutdown, certain production lines and facilities at Agriauto Industries Limited and its subsidiary will be temporarily halted. The company aims to optimize its resources and streamline operations during this period. However, essential departments and functions, such as maintenance and critical services, will continue to operate to ensure a smooth resumption of operations once the shutdown concludes.

Agriauto Industries Limited is known for its expertise in manufacturing automotive components and has a strong track record of providing quality products to its customers. The decision to implement a partial shutdown reflects the company's commitment to adapt to changing market dynamics while maintaining operational efficiency.

Nadeem Textile Mills Limited to Hold Extraordinary General Meeting for Capital Increase and QR-enabled Financial Statements

Karachi, Nadeem Textile Mills Limited has announced an upcoming Extraordinary General Meeting (EOGM) scheduled for June 22, 2023, in Karachi, Pakistan. The meeting will primarily focus on two significant matters - the increase in authorized capital of the company and the utilization of QR-enabled codes and weblinks for circulating annual audited financial statements to shareholders.

Under the special business category, shareholders will deliberate upon a resolution to increase the authorized capital of the company. The proposed special resolution suggests raising the authorized capital from Rs.330.00 million, divided into 33.00 million ordinary shares of Rs.10/- each, to Rs.2,000 million, divided into 200.00 million ordinary shares of Rs.10/- each.

In the ordinary business section, shareholders will consider resolutions that would permit the company to distribute the annual audited financial statements to shareholders through QR-enabled codes and weblinks. This move aims to streamline the dissemination of financial information and enhance accessibility for shareholders.

The meeting will also allow for the transaction of any other business that obtains permission from the Chair.

To facilitate the meeting and process the necessary changes, the Register of Members and Share Transfer Books of the company will remain closed from June 16, 2023, to June 22, 2023, inclusive.

This EOGM represents a crucial opportunity for shareholders of Nadeem Textile Mills Limited to contribute to important decisions that will shape the future of the company.