Lahore: LSE Financial Services Limited has announced significant changes to its business operations, including a proposed name change and a shift in business focus, to be considered at its Annual General Meeting (AGM) scheduled for November 27, 2024. The proposals were outlined in an addendum to the AGM notice, published in The News and Dunya on November 12, 2024.

The addendum to the AGM notice was issued following a request from a shareholder holding more than 596 shares of the company. According to the document, the shareholder has proposed two key resolutions for the upcoming meeting. The first resolution involves changing the company's name from LSE Financial Services Limited to "LSE Enterprises Limited" or another suitable name, pending approval from the Securities and Exchange Commission of Pakistan.

The second resolution seeks to amend the company's principal line of business. The proposal suggests transitioning from providing investment finance services to making investments in other companies, businesses, products, and projects. This change implies that the company will no longer operate as an Investment Company, Non-banking Finance Company, or Brokerage House, nor will it invite deposits from the public.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions have been added to the agenda for consideration under item number 7 at the forthcoming AGM. The proposed changes also include modifications to Clause 3.1 of the Memorandum of Association of the company.

The resolutions are submitted under section 140(2) of the Companies Act, 2017. The AGM will take place in Lahore, where members will review and potentially approve these significant changes to the company's structure and operations.