Lahore: Waves Home Appliances Limited has announced an Extra Ordinary General Meeting (EOGM) of its shareholders, scheduled for April 5, 2025, at 11:30 a.m. The meeting will be held at the company's Registered Office on Multan Road, Lahore, and will also be accessible electronically. The agenda includes the confirmation of previous meeting minutes and a significant proposal to increase the company's authorized share capital.

The primary focus of the EOGM will be the proposal to increase the company’s authorized share capital from Rs. 4.25 billion, divided into 425 million ordinary shares, to Rs. 7 billion, consisting of 700 million ordinary shares. This increase involves the addition of 275 million ordinary shares, each valued at Rs. 10. The proposal, if approved, will amend the company's Memorandum and Articles of Association to reflect these changes.

According to information available from the Pakistan Stock Exchange (PSX), the company seeks to empower its Chief Executive Officer to undertake all necessary corporate and legal formalities to implement the approved changes. The CEO will also have the authority to delegate these responsibilities as deemed appropriate.

Shareholders are invited to participate in the decision-making process through a postal ballot, which must be submitted 48 hours before the meeting. The company's announcement emphasizes the importance of ensuring that the signatures on the postal ballot align with those on the identification documents provided.

This meeting is categorized under the designated market category of household appliances, reflecting Waves Home Appliances Limited's focus on manufacturing and distributing home appliance products. The outcome of the upcoming EOGM could significantly impact the company’s capital structure, subject to shareholder approval.